Turnover during the period stood at Rs 71,451 crore against Rs 82,509 crore in the same period of last year. Our refining business delivered another record performance and achieved industry leading GRM,'' Mukesh Ambani, chairman & managing director, RIL said. "Though regional refining margins trended downwards, our high-conversion refining system was able to take advantage of higher margins on middle distillates and wider discounts on sour crude oils. RIL said global oil demand had increased 1.45 million barrels per day in 2016 with robust growth in India and the US. RIL added that its GRM outperformed the benchmark Singapore margins by $6.5 per barrel.

Source: The Telegraph July 15, 2016 20:15 UTC