I am also keenly aware of the responsibilities attached to the office and for the Constitutional obligations that come with it In this report I present the results of our work for the past year. It has seen us conduct the financial audit of the Public Accounts, compliance audits of Ministries, Departments and Agencies as well as schools and vocational institutions. I also report on the audits of Public Enterprises and Commissions. All of these are conducted in compliance with professional auditing and ethical standards generally recognized around the world.
Consolidating its leadership position, Reliance progressed rapidly on initiatives to enhance petrochemical capacities, strengthen integration, improve feedstock security and bolster sustainability. PX expansion at Jamnagar was commissioned successfully in a phased manner.
The installation of ROGC and downstream projects at Jamnagar have been completed during the year and pre-commissioning and start-up activities are in full swing. Continuing to augment its customer centricity and consumer orientation, Petrochemicals business has progressed further on the expression of 'Chemistry for Smiles'.
Reliance has strengthened the customer supply interface on digital platforms and further empowered customers and channel partners through e-commerce transactions on smart devices. To minimise any impact on environment, Reliance deploys world-class technologies across all sites to reduce fresh water consumption per unit of production by maximising waste water recycle and minimising external discharge.
RIL has 10 manufacturing locations in India and 3 in Malaysia. The deep integration within each chain helps RIL mitigate the impact of price volatility in the global energy and chemical industry, and manage the impact of external shocks. RIL also has a diversified raw material slate, with both naphtha and gas based crackers, which helps mitigate risk involved with raw material sourcing and margin volatility.
Leadership A relentless focus on safety and continuous improvement helps RIL in achieving industry-leading profitability across business cycles.
RIL's focus on technology leadership, cost efficiencies and responsible operational practices, while maintaining high operating discipline is key in maintaining domestic market leadership, and is a source of a renewable and sustainable competitive advantage.
Reliance manufactures a wide range of petrochemicals including: It includes compounds such as Ethylene, Propylene, etc. These products form the input materials for polymers and other industrial chemicals. These products are used in applications such as plastic products, packaging materials, pipes etc.
PFY and PSF are predominantly used in manufacturing of textiles while PET is used majorly in food packaging, in manufacturing of bottles for beverages.
The most common form of elastomers are rubber products. The primary feed for the Petrochemicals business comes from the light-end of the crude refining process such as naphtha, propylene, reformate and Natural Gas.
The Company leverages its leadership position in the refining streams through conversion of naphtha, propylene, reformate and LPG to value added products that are sold globally. More importantly, every business in the Petrochemicals segment uses chemistry and chemical formulations to help create a diverse range of end-products that make modern life more convenient and efficient.
Reliance Petrochemicals harnesses the power of chemistry, to help produce goods that bring smiles to the face of end consumers.
This was reflected in petrochemical feedstock and product prices. Profitability of naphtha based producers remained at historical highs for most of the year. Global ethylene operating rates, which are indicative of the margin environment, improved marginally on a y-o-y basis to Operating rates are expected to dip marginally in as new capacities in US come online.
Addition of capacities in US, based on low cost ethane from shale gas production could soften prices from New propylene derivative capacities in Asia has resulted in firm propylene prices during the year.
However, addition of On-Purpose propylene units are expected to remain as marginal suppliers and moderate their operating rates depending upon economic viability based on changes in feedstock prices.
Though crude oil prices have recovered, cash cost economics of naphtha based crackers remained favorable against crackers based on other feedstocks. Though the expected advantage of US gas crackers has reduced over time due to low crude oil prices, it still supports these projects given healthy margins and strong demand.
The global demand for these polymer products is estimated to grow at a CAGR of 4. Average naphtha prices in Asia were lower during the year as higher cracker turnarounds impacted demand.Auditor General‟s Annual Report to Parliament. 1. Foreword. As I take up my position as Auditor General of Sierra Leone, I am mindful of the honour bestowed upon me by the President and Parliament.
The economy of India is a developing mixed economy. It is the world's sixth-largest economy by nominal GDP and the third-largest by purchasing power parity (PPP). The country ranks th in per capita GDP (nominal) with $2, and nd in per capita GDP (PPP) with $7, as of After the economic liberalisation, India achieved % average GDP growth annually.
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