Reliance Industries Limited on Thursday rejected media reports claiming it had purchased Iranian crude oil. The company termed the claims 'baseless' and 'misleading,' urging news organisations to verify information before publication.
Reliance Rejects Iranian Crude Purchase Claims
Reliance Industries Limited on Thursday rejected reports in a section of the media claiming that it had purchased crude oil of Iranian origin, calling the claims "baseless" and misleading.
"Reliance Industries Limited categorically rejects recent media reports that the company has purchased crude oil of Iranian origin," the company clarified in response to the reports.
The company added that the claims circulating in sections of the media were inaccurate and urged news organisations to verify information before publishing such reports. "These reports are baseless, leading to misleading and incorrect claims. We urge the concerned media outlets to verify facts before publication," the statement said.
Earlier this week, some media reports had claimed that the company had bought around 50 lakh barrels of Iranian crude oil, shortly after the United States eased certain restrictions on Iranian oil shipments.
Diversified Sourcing Strategy
India's largest refiners, Reliance Industries Limited, sources crude from multiple global suppliers to run its large refining operations.
Reliance Industries operates the world's largest refining complex at Jamnagar and processes a large and flexible mix of crude oil to run its refining capacity of about 1.4 million barrels per day.
The company imports crude from multiple regions to meet its refining needs. Russia has been a major supplier in recent years. The company also sources oil from the Middle East, including countries such as Iraq, Saudi Arabia and Qatar. Apart from these, Reliance has imported crude from producers in the Americas and other regions, including the United States, Brazil and Canada, to maintain a diversified crude basket for its refineries. (ANI)
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