India's Reliance establishes subsidiary for trading oil in UAE

India's Reliance establishes subsidiary for trading oil in UAE

Reliance Industries, an Indian company specialised in energy, materials, retail, entertainment, and digital services, has established a wholly-owned subsidiary in the UAE. Reliance International Limited (RINL) will conduct activities relating to the trading of crude oil, petroleum products, petrochemicals, and agricultural commodities, according to a recent bourse filing. The parent company has invested $1 million in cash in the new subsidiary, which is yet to commence business operations. It is noteworthy to mention that in June, based in Ruwais in Abu Dhabi.