Reliance Industries (RIL) gross refining margins (GRMs) have risen around 30% sequentially in the July-September quarter. The company, one of the most complex refiners globally, is seen as the biggest beneficiary in Asia of the impending International Maritime Organisation (IMO) regulations.
Shipping companies will have to adhere to the IMO’s low sulphur fuel regulations starting January 1. The regulations 2020 mandate reduction in sulphur content of bunker fuel to less than 0.5% from 3.5% to reduce sulphur dioxide emissions globally.
