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Reliance expands storage capacity in the Bahamas

Reliance Industries Ltd. is reported to have leased about 1.2 million barrels of storage capacity at the Borco terminal in the Bahamas, in its bid to increase supply channels to the American market. Reliance, which operates a 12.4-million ton refinery complex, the world’s largest, in Jamnagar, Gujarat, India, had earlier leased 800,000 barrels of clean storage from American refiner Hess Corp. in the New York Harbor. The Borco deal, which was finalized in the second half of 2009, will expand Reliance’s fuel supply capacity in the U.S., the world’s biggest market for petroleum fuels. (March 6, 2010)