en.Wedoany.com Reported - Anant Ambani, Executive Director of Reliance Industries, called for reducing India's dependence on imported energy at the group's 49th Annual General Meeting, stating that when conflicts in West Asia disrupted liquefied natural gas (LNG) imports, the company redirected domestic natural gas supplies to priority sectors such as city gas distribution, fertilizers, and power generation, while increasing liquefied petroleum gas (LPG) supplies.
Ambani noted that over 70% of India's energy needs rely on external sources, making the country vulnerable to geopolitical instability. Reliance Industries operates the world's most complex and largest refining complex in Jamnagar, with unique advantages in producing gasoline, diesel, and aviation fuel.
Ambani reviewed the market volatility following the disruption in the Strait of Hormuz in March 2026, when crude oil and petroleum product markets experienced exceptionally sharp fluctuations. In response, Reliance maintained near-full refinery throughput in the fourth quarter through diversified crude procurement and flexible logistics. Despite soaring freight rates, rising insurance costs, and supply disruptions, the company sustained operations. Meanwhile, Reliance quadrupled LPG supplies to help offset import disruptions, ensuring uninterrupted cooking fuel supply nationwide. Ambani said the conflict impacted profit margins due to premiums from physical barriers, a surge in free trading, and skyrocketing insurance costs.
The Jamnagar refining complex operates a dual commercial strategy with an almost equal split. Half of its output, approximately 33 million tonnes per year, meets daily transportation fuel demand in the Indian domestic market; the remaining 35.2 million tonnes are processed through a dedicated export-oriented special economic zone refinery to capture profits from Western export markets. Ambani stated that the company's oil and gas business achieved revenue growth of 5.7% to 662,401 crore rupees, with EBITDA growing 10.1% to 60,546 crore rupees.
Reliance is advancing plans to transform the Jamnagar complex into the world's first end-to-end autonomous refinery. Ambani described it as an "industrial milestone that will define the next era of global refining." In fuel retail operations, Jio-bp's gasoline and diesel sales grew 29% year-on-year, with the retail network expanding to nearly 2,200 outlets nationwide.
Another major announcement at the Annual General Meeting was revealed by Mukesh Ambani: the Jio Platforms board has approved its Draft Red Herring Prospectus (DRHP), and the telecom and digital services company will file documents with the Securities and Exchange Board of India (SEBI) later that day in preparation for an Initial Public Offering (IPO). Reliance Industries shares closed at 1,309.35 rupees on the Bombay Stock Exchange (BSE), down 18.40 rupees or 1.39% from last Friday's closing price, as of around 3:56 p.m.
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