Reliance Industries Ltd. buys 3 mn barrels of spot Brazilian crude; India urges Ghana to ensure gas supply for its 1.15 million tonne per annum ammonia-urea fertiliser plant
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    • Reports noted that the operator of the world's largest refining complex, Reliance Industries Ltd. has bought around 3 mn barrels of spot Brazilian crude which will arrive in India in the next two months. It was pointed out that this move could be possible because of weaker US crude prices versus European benchmark and lower freight rates. This development is also indicative of emerging economies’ quest to diversify sources of supply.1

    Meeting with Ghanaian President John Evans Atta Mills, Indian Commerce and Industry Minister Anand Sharma who was on a visit to Ghana, pitched for assured gas supply from the hosts for a 1.15 million tonne per annum ammonia-urea fertiliser plant in India. Discussions were also held between officials from ONGC, OVL and GAIL and their counterparts at Ghana National Petroleum Corporation on joint exploration initiatives in the sector.2

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