By IANS,
Mumbai : In a bid to tap global markets for petroleum products, India’s largest private sector company Reliance Industries Ltd (RIL) Tuesday incorporated two wholly-owned subsidiaries in London and Singapore.
Former president of Shell Trading’s gas and power division Peter Ward will head the London arm Reliance Global Energy Services Ltd, the statement said.
It also said former president of Fair Energy Michael Ng will head the Singapore subsidiary, Reliance Global Energy Services Singapore Pte Ltd.
Ng has also been the head of Shell’s international aviation business in Asia.
In 2007-08, RIL earned total revenues of Rs.1,392.69 billion ($34.7 billion) and a net profit of Rs.152.61 billion ($3.8 billion).
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