Reliance refining margins rise as light, heavy crude prices diverge.

(From Business Line)

Byline: Vinod Mathew

Mumbai, March 17 - THE price variation between 'heavy' and 'light' crude which continues in the $8-$10 range in the international market - with the former being the cheaper variety - has helped Reliance Industries Ltd secure, in the current year, better profit margins on refining than other players who can handle only 'light' crude.

The improved margins come on the back of RIL processing as many as seven new "opportunity" crude during the first nine months of the fiscal. In industry parlance that means cheaper varieties of crude that has few takers in the market and, hence, available at a lower price. …