Reliance Starts Crude, Fuel Trading in Singapore, Official Says
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Reliance Industries Ltd., the operator of India’s largest oil refinery, started trading crude and refined products in Singapore this month as it seeks to expand supplies to markets including Indonesia and Australia.
The Mumbai-based company currently trades products including naphtha and fuel oil from the Indian city, according to Mike Omar, the head of Reliance Global Energy Services Ltd. The Singapore unit has joined the trade ministry’s Global Traders Programme, which offers lower tax rates to businesses that set up trading operations in the country, he said.