India's Future Should Not Be Held Hostage By Energy Security: RIL Chairman Mukesh Ambani

At the 49th Reliance Industries Ltd AGM, RIL Chairman, Mukesh Ambani noted that India's future should never be held hostage to energy security. 

While the energy demand is expected to intensify in the coming decade, India is still dependent on 70% external energy sources, he said, while highlighting that it's not only a cost problem but makes the South Asian nation vulnerable to geo-political instability.

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The Reliance Industries Ltd Chairperson said, Reliance plans to bolster India's energy sources in comprehensive, and future focused manner, which includes solar, wind, underground coal gasification and compressed biogas. 

This will be undertaken to ensure that India is able to produce almost all energy needs it has in the most affordable manner. Priortising a shift to renewable energy, he noted that this would also lead to India becoming a leader in green AI, green fuel, and green jobs.

Sharing key financial updates on Reliance's exploration and production operations, Anant Ambani, Executive Director of Reliance Industries, said," This business reported revenue of Rs 23,861 crore and an EBITDA of Rs 19,050 crore for the year 2026. 

Meanwhile, KGB fields recorded stood a 26 MMSCMD, which is nearly 30% of India's domestic gas production. Further, oil production stood at 18,000 barrels per day. On CBM, Ambani noted that due to the successful implementation of its multi-lateral wells, 23 out of the 40 multi-lateral well have come to fruition. 

Coming to Reliance's oil-to-chemical business, he noted that "Revenue grew by 5.7% YoY to Rs 6,62,401 crore, EBITDA grew 10.1 YoY to Rs 60,546 crore. 

Notably, RIL maintained near-full refinery throughout the fourth quarter, however, the West Asia conflict impacted margins as physical barrels commanded a premium and freight rates jumped, and insurance cost surged. 

(This is a developing copy)