Mumbai: The Mukesh Ambani-led Reliance Industries’ Oil-to-Chemicals (O2C) business changed its product mix and ramped up exports to as high as 80 per cent of total output to beat the Covid-19 induced slowdown in the domestic market, company officials and analysts say.
RILNSE 1.48 % has reversed the share of exports and local sales to 80 per cent and 20 per cent respectively from 20 per cent and 80 per cent in a matter of 10 days to beat the slowdown after the lockdown was announced in late March. The travel restrictions in India led to a 45.8 per cent decline in fuel demand in April as the economy shut down from late March. RIL changed the product mix to increase petrochemical production as demand from refined products plummeted across the world.
