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Petrochemicals, as the name suggests, are chemicals obtained from the cracking of petroleum feedstock. Petrochemicals are used in many manufacturing fields.
Petrochemicals dominates the global chemicals market with a share of almost 40 percent.
PETROCHEMICALS ARE THE DOWNSTREAM OF THE OIL AND GAS INDUSTRY - AN INDUSTRY WHOSE PRODUCTS AFFECT OUR DAILY LIVES.
Petrochemicals are a part of our daily lives the carpeting on which we walk plastic soda bottles from which we drink clothing we wear fertilizers that grow our crops tires we rely on for transportation paints we use to brighten our surroundings pharmaceuticals we need to remain healthy, cosmetics, and many other applications.
The petrochemical industry has been one of the of the fastest growing industries in the Indian economy; it provides the foundation for manufacturing industries such as pharmaceuticals, construction, agriculture, packaging industry, textiles, automotive, etc.
The Indian petrochemical industry is a highly concentrated one and is oligopolistic in nature.
Reliance Industries Ltd (RIL)
Reliance Industries Limited (RIL)is the largest private sector conglomerate company headquartered at Mumbai, India. It is one of the largest India's private sector companies, being ranked at the 126th position in the Forbes Global 2000 list.
Reliance was founded by the Indian industrialist Dhirubhai Ambani in 1966. Ambani has been a pioneer in introducing financial instruments like fully convertible debentures to the Indian stock markets. Ambani was one of the first entrepreneurs to draw retail investors to the stock markets.
Group's annual revenues are in excess of US$ 58 billion. The flagship company, Reliance Industries Limited, is a Fortune Global 500 company and is the largest private sector company in India.
Reliance Industries was the only Indian firm featured in the Forbes's list of "world's 100 most respected companies. According to the company website "1 out of every 4 investors in India is a Reliance shareholder."
The Company's operations can be classified into four segments namely: Petroleum Refining and Marketing business Petrochemicals business Oil and Gas Exploration & Production business Garments , Retail & Others
The Company is: Largest producer of Polyester Fibre and Yarn 5th largest producer of Paraxylene (PX) 5th largest producer of Polypropylene (PP) 8th largest producer of Purified Terephthalic Acid (PTA) and Mono Ethylene Glycol (MEG)
Revenue US$ 58.55 billion (2011) Net income US$ 4.24 billion (2011) Total assets US$ 67.74 billion(2011) Total equity US$ 34.12 billion(2011) Employees 23,365 (2010)