India's Reliance becomes top importer of US ethane in 2017
According to the company statement, Reliance is planning to import around 1.6 million tons of ethane from the US in the current fiscal year to replace natural gas and naphtha as a feedstock at its petrochemical plants. The company expects to increase its operating profit and naphtha exports as ethane is cheaper when compared to other feedstocks.
Reliance expects to add $300 million to its operating profit of the petrochemicals business for this year by using ethane while the company’s total naphtha exports are expected to rise by 500,000 tons/year.
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