After Singapore and London, India's largest private sector company Reliance Industries Limited now plans to set up a trading arm in the United States to sell fuel from its refineries at Jamnagar.
The company operates a 33 million tons export-oriented refinery at Jamnagar and its subsidiary Reliance Petroleum is likely to commission a 29 million tons refinery purely for exports in the next few months.
"We always said that we want to be near the markets. That's why we have made our presence in Europe and Far East," said Reliance CEO & president (Oil and Gas) P M S Prasad.
About 40 per cent of the petrol and diesel from the new refinery is likely to land up in US. Europe is the other major market the company is looking at.
"We were in Dubai (and) now we are in Singapore and in London. Soon we will have one in the US," he said but did not give a time frame.
Reliance, which has hired top Shell executives to head its trading arms, is likely to set up an arm in Houston.
It's London-based unit, Reliance Global Energy Services Ltd is headed by Peter Ward, a veteran in the industry who was formerly the President of Shell Trading's Gas and Power division, while Reliance Global Energy Services Singapore Pte Ltd would be headed by Michael Ng.
Ng was till recently the President of Fair Energy. He has also been the Head of Shells International Aviation business in Asia.
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