Reliance to tighten grip on world fuel markets

‘Plants may run at more than 100 per cent capacity in 2010’

NEW DELHI/SINGAPORE: India’s top privately run refiner Reliance is expected to raise crude oil imports by about 22 per cent this year as it ramps up production at its giant complex, further stamping its mark on world markets.

To maximise profit margins with its sophisticated refining capability, Reliance Industries is also set to limit African crude imports this year in favour of Middle East grades, if light crude prices continue to strengthen against heavy-sour grades, traders and analysts said.

Report sought over delay in gas exploration

ISLAMABAD: The government has sought a report from the Oil and Gas Development Company Limited (OGDCL) over ‘inordinate delay’ in the exploration of Pakistan’s largest gas field in Balochistan that has the capacity to make all imported fuel options redundant and save billions of dollars in foreign exchange.

Official documents made available to Dawn suggest that the Kohlu exploration block, spread over an area of 2500 square kilometres, possess an estimated reserves of about 22 trillion cubic feet, which are a little less than Pakistan’s total current proven gas reserves of about 29 trillion cubic feet (TCF).

‘This is such a big project for the country’s energy security that the government cannot afford to keep it in cold storage indefinitely,’ a senior government official said.

‘We have also taken up the issue with the prime minister who has assured full support and p