Singapore GRMs have fallen below $4 per barrel in April—lowest since October 31—compared to around $10 per barrel in February, highest so far in 2024.
Analysts will watch out for more clarity on the Rs 75,000-crore investment in the new energy business, growth in retail store additions and pricing in the telecom business
Reliance Industries put up a strong set of quarterly results, with both gross refining margins and petchem business coming ahead of many analysts' expectations.
Mayuresh Joshi of Angel Broking said the RIL's gross refining margins (GRMs) were in line with expectations while numbers of the refining business were ahead of expectations.
In an interview with CNBC-TV18, P Balasubramanian, Director Finance of BPCL said inventory gains and high refining margins helped in stable June quarter earnings.
In an interview with CNBC-TV18‘s Sumaira Abidi and Reema Tendulkar, Edelweiss oil & gas analyst Jal Irani shared details of the firm‘s latest report on shares of oil marketing companies.
Essar Energy said an expansion in refining capacity and the ability to better process lower-cost heavy crude oils helped firm up refining margins in the third quarter.