{"id":401685,"date":"2021-02-23T11:20:36","date_gmt":"2021-02-23T05:50:36","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=401685"},"modified":"2021-02-23T11:20:36","modified_gmt":"2021-02-23T05:50:36","slug":"reliance-to-hive-off-o2c-business-expects-approvals-by-september-quarter","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/reliance-to-hive-off-o2c-business-expects-approvals-by-september-quarter\/","title":{"rendered":"Reliance to hive off O2C business, expects approvals by September quarter"},"content":{"rendered":"<p>Mukesh Ambani-controlled Reliance Industries Ltd (RIL) expects to get the necessary approvals to hive off its oil-to-chemicals (O2C) business into a separate unit by the second quarter of the next financial year, according to the company&#8217;s presentation to investors on Monday.<\/p>\n<p>The company had initiated the process of spinning off the O2C business at a time when the Covid-19 pandemic caused a slump in fuel demand and weighed on the segment&#8217;s recent results.<\/p>\n<p>Reliance would retain full control of the business after restructuring, the company said in the presentation.<\/p>\n<p>The Mumbai-headquartered conglomerate also announced its aim to work with the O2C business to reduce its carbon footprint and become &#8220;net carbon zero&#8221; by 2035.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Mukesh Ambani-controlled Reliance Industries Ltd (RIL) expects to get the necessary approvals to hive off its oil-to-chemicals (O2C) business into a separate unit by the second quarter of the next financial year, according to the company&#8217;s presentation to investors on Monday. The company had initiated the process of spinning off the O2C business at a time when the Covid-19 pandemic caused a slump in fuel demand and weighed on the segment&#8217;s recent results. Reliance would retain full control of the business after restructuring, the company said in the presentation. The Mumbai-headquartered conglomerate also announced its aim to work with the [&hellip;]<\/p>\n","protected":false},"author":39,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[135,130,169],"tags":[],"class_list":["post-401685","post","type-post","status-publish","format-standard","hentry","category-business-standard-newspapers","category-newspapers","category-oil-gas-business-standard-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/401685","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/39"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=401685"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/401685\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=401685"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=401685"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=401685"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}