RIL ends Jamnagar units export status

Reliance Industries has ended the only-for-export status of its old oil refinery at Jamnagar,a move that will allow it to sell petrol and diesel locally,including through its 1,432 closed petrol pumps. The firm sought to end the Export Oriented Unit EOU status of its 33 million tonnes a year refinery,now known as J-1,an industry official said. J-1 was converted into an EOU with effect from April 16,2007 for three years to tap the clean fuel markets in Europe and the US.

The EOU status,which was valid for three years to 2010,also enabled the company to avoid sale into the domestic market,which had become loss-making for the private refiner as it could not compete with subsidised rates of state-run firms.

Reliance spokesperson did not offer any comments.