Company Response to Media Claims
- Reliance Industries denied reports that it purchased crude oil from Iran after sanctions were lifted. The company addressed the issue through an official press release issued on Thursday.
- Reliance stated that the reports are false and misleading. The company confirmed that it has not purchased any Iranian crude oil. The company also asked media organizations to verify facts before publishing such claims.
Background: Sanctions and Market Conditions
- The issue emerged during a period of instability in West Asia. The global crude oil prices reached $100 per barrel during this time.
- The United States had announced that purchases of Iranian oil would be allowed after easing sanctions. This decision led to speculation in the energy market.
Reports on Alleged Oil Purchase
Some media reports claimed that Reliance Industries bought around 5 million barrels of oil from the National Iranian Oil Company (NIOC).
The reports also stated:
- The purchase included a premium of $7 per barrel
- The price was higher than the Brent crude benchmark
Reliance’s Clarification
Reliance rejected all these claims. The company stated that:
- No such transaction took place
- The reported figures are incorrect
- The information published is not based on verified facts
The company emphasized that accurate reporting is essential for all aspects which involve global energy markets.
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