How global oil dynamics made Abu Dhabi unit vital for RIL

of $58.1 billion for the 15-month period ending March 2025. This included income from both the sale of crude oil to Reliance Industries and the sale of refined petroleum products to other companies.

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Reliance International is based in the Abu Dhabi Global Market.

Mint could not ascertain whether this subsidiary is engaged in trading of Russian crude oil, but its surge in fortunes coincides with the Russian invasion of Ukraine in February 2022, which sent the global oil markets in a tizzy and made Russian oil available at steep discounts for Indian and Chinese buyers.

Since FY24, Reliance Industries has been classifying Reliance International as a material subsidiary, a tag shared by only five other of its units. The company defines material subsidiaries as those which have an income or net-worth exceeding a tenth of the company’s consolidated income or net-worth, respectively.

Other material subsidiaries include IPO-bound Jio Platforms Ltd, telecommunications unit Reliance Jio Infocomm Ltd, retail units Reliance Retail Ventures Ltd and Reliance Retail Ltd, and another oil trading entity Reliance Global Energy Services (Singapore) Pte. Ltd.

In FY25, Reliance Industries purchased ₹1.48 trillion worth of products, mainly crude oil, from Reliance International, as per the former's annual report. In the same year, it sold ₹1.97 trillion worth of refined petroleum products to the unit. Sales to Reliance International accounted for 18.4% of the consolidated revenue of Reliance Industries.