Reliance and naphtha
Reliance Industries is set to re-enter the international market as a buyer of naphtha for its gas cracker at Hazira.
This follows the installation of a new Single Buoy Mooring (SBM) off the Hazira coast to replace one that was sunk after collision with a ship. Petrowatch learns the new SBM - bought from the Middle East - became operational on 2 December.
Reliance wants to keep the news out of the press. A source at Reliance tells this report the company fears international prices for naphtha will shoot up in anticipation of buy orders.
The new SBM means Reliance will also stop buying naphtha from domestic oil companies. The Hazira gas cracker requires an average 2m t/y of naphtha.
