Reliance Industries is likely to reopen its shut petrol pumps within the next few days. Confirming the news one of the industry sources said that the petrol pumps will be reopened shortly as RIL can now sell fuel from its old refinery. The company has announced that the old refinery which was operating as an Export Oriented Unit (EOU), will now operate as a non EOU refinery with effect from April 16. This will help the company to meet the demand of petroleum products in the country.

 

Only a year ago, RIL had to close down its 1,432 petrol pumps failing to compete with the subsidised rates of PSU retailers. Now with fall in the prices of the fuel, things have started to get better for RIL. According to industry sources, RIL's petrol pump in Gujarat may start retailing petrol and diesel by Saturday (April 18).

 

The suspension of EOU status of RIL's oil & gas refinery in Jamnagar has enabled the company to reopen its petrol pumps. The Jamnagar refinery has a capacity of 660,000 barrels a day. The refinery will now be able to cater to domestic as well as export markets more efficiently.