RIL gives up EOU status of Jamnagar refinery

Reliance Industries Ltd.’s 660,000 bpd Jamnagar refinery is to operate as a non-EOU refinery to cater to increasing domestic demand of petroleum products. RIL has surrendered the status of export-oriented unit (EOU) in a bid to sell fuel in the domestic market, as well as to help the company save on taxes as it would have to pay higher taxes if it were to continue with the EOU status. Reliance Industries had earlier decided to merge its refining subsidiary Reliance Petroleum with itself to achieve operational synergies, with the new entity having a combined capacity of 1.23 mln bpd.
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