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Reliance Industries Ltd’s new refinery in western Gujarat state began processing crude this week, nearly doubling company output and creating the world’s biggest refining complex just as global demand retreats.

After reaching full capacity of 580,000 barrels per day (bpd), the $6 billion project, one of the most sophisticated in the world, will make the oil complex in Jamnagar the single-biggest supplier of fuels to the global market. It will pump out 1.24 million bpd of ultra-clean fuels to meet demand in Europe, Africa and the United States.

The refiner’s process configuration is being designed to maximise gasoline, alkylate, jet fuel and diesel output, as well as premium products such as 0.1 percent sulphur gasoline and diesel, while the production of residual fuel will be limited.

RPL refinery at a glance

• It is one of the world’s most complex refineries with a Nelson Complexity index of 14.0. This will enable the refinery to process heavy-crude varieties and produce superior quality products that meet stringent specifications, even beyond the forthcoming Euro IV norms.

• The high complexity will also present a significant competitive advantage in the current industry landscape of increasingly heavy and sour new crude discoveries. In addition, the widening light-heavy differentials in recent years will add to its competitiveness.

• RPL refinery is located adjacent to RIL’s existing refinery and petrochemicals complex, which is among the largest and most efficient complexes in the world. Through sharing of best practices and leveraging the existing infrastructure, RPL will stand to gain in the areas of operational efficiency, logistics, crude sourcing, product placement and risk management

• Close proximity to the Middle East. The result: lower ship turnaround time and reduced crude freight costs.

Above news source: Reuters UK & Indian Express

Pictures source: Reliance Petroleum website

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I want to finish the following exams, if possible, in the next 2 years

IBM Lotus 8 Systems Administration Certifcation – 4 papers

IBM Lotus Notes Domino 8 System Administration Operating Fundamentals
IBM Lotus Notes Domino 8 Building the Infrastructure
IBM Lotus Notes Domino 8 Managing Servers and Users
IBM Lotus Notes Domino 8 Configuring Domino Web Servers

Microsoft Windows 2008 Server Certification – 4 papers

Windows 2008 Active Directory Configuration
Windows 2008 Network Infrastructure Configuration
Windows 2008 Configuring Applications Infrastructure
Windows 2008 Windows Server Administration
Windows 2008 Enterprise Administrator

NCFM exams – 4 papers

Capital Markets
Mutual Funds
Commodities Market
Derivatives Market

Certified Financial Planner (CFP)

Wonder where will i find the motivation, money and time to finish all the exams ?

Above picture courtesy: Gailsussmanmiller

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This surely has to be the most closely guarded and shocking news in the industry this year. The Singhs have really stuck gold with this deal. A lot of the money generated out this deal will be pumped into Fortis Healthcare and Religare Financial Services. Only time will tell if Malvinder Singh has pulled off a coup or it’s a decision he will live to regret.

The Indian promoters of Ranbaxy, the Singh family, have agreed to sell their stake to Daiichi Sankyo Company Ltd of Japan in one of the largest deals in the Indian pharmaceutical space.

The all-cash deal is valued at $4.6 billion (Rs 19,780 crore) which will see Daiichi acquiring 51 per cent in Ranbaxy, India’s largest domestic drug company, at Rs 737 a share, a 53.5 per cent premium to the average daily closing price on the National Stock Exchange for three months ending June 10, 2008, and 31.4 per cent to the June 10 closing price.

This price puts Ranbaxy’s enterprise value at $8.5 billion.

Full article here

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The annual Forbes World’s Billionaire’s list has a new leader, Warren Buffet. The oracle of Omaha takes the top spot displacing the 2nd placed Mexican Carlos Helu and Microsoft’s Bill Gates. Surprise surprise, India has 4 billionaires in the top 10 list compared to 2 from the US.

The top 10 list of billionaires along with their current worth is as follows

1 Warren Buffett – $62 billion
2 Carlos Slim Helu – $60 billion
3 William Gates III – $58 billion
4 Lakshmi Mittal – $45 billion
5 Mukesh Ambani – $43 billion
6 Anil Ambani – $42 billion
7 Ingvar Kamprad – $31 billion
8 KP Singh – $30 billion
9 Oleg Deripaska – $28 billion
10 Karl Albrecht – $27 billion

The US has 475 billionaires followed by Russia with 87, Germany with 59 and India with 53 billionaires.

Above picture courtesy: Forbes

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Look who is speaking about communalism. The fellow responsible for the worst communal riot in India’s history (post Babri Masjid demolition). The fellow responsible for whipping up communal frenzy and the fellow responsible for the demolition of the Babri Masjid. The BJP’s perenniel Prime Minister in waiting, LK Advani with probably the best WTF comment of the year.

NDA’s prime ministerial candidate L.K. Advani expressed surprise at the heavy communal overtones of the Union Budget. “It is a throw back to the Liaqat Ali days, the consequences of which are well-known,” he said.

Reacting to the Union Budget presented by the Union finance minister, Mr P. Chidambaram, Mr Advani said, “So far, the record of this government has been one of being long on promise and short on delivery. This year may not be any different.” Mr Advani said the highlight of the Union Budget was the waiver of farm loans, but it has come too late. It is also insufficient, he said. A large number of farmers had taken loans from private money-lenders. Arrangements should have been made to provide relief to them also.

The rate of interest on farm loans should also have been reduced to four per cent. The farmer should also have been covered under an assured income insurance scheme, he said.Farm loans are supposed to be remitted by June 30 this year, but the finance minister has said nothing about the administrative arrangements needed for such an exercise, Mr Advani said.

Above news courtesy: Deccan Chronicle

Picture courtesy: Outlook

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