India's Reliance establishes subsidiary for trading oil in UAE
- Date: 03-Oct-2021
- Source: Mubasher
- Sector:Financial Markets
- Country:Gulf
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.