Reliance to open trading offices in London, Singapore

Reliance Industries (RIL) announced that it has incorporated wholly owned trading subsidiaries in London and Singapore to beef up its trading operations and secure storage facilities prior to commissioning its export-oriented 580,000 barrel-per-day (bpd) refinery in Jamnagar in November. The company aims to tap emerging opportunities in global petroleum product markets. RIL has appointed Peter Ward, former president of Shell Trading’s gas and power division, to head Reliance Global Energy Services in London and Michael Ng, a former senior trader at Royal Dutch Shell, to head Reliance Global Energy Services Singapore. (September 10/October 8, 2008)