RIL eyes global exploration opportunities

MUMBAI: Reliance Industries Ltd has said that the company was pursuing global opportunities in exploration and production of energy sources like oil and natural gas.

"The company has the capacity and the ability to emerge as a significant player on the global energy scene. To this effect, we are also pursuing global opportunities in exploration and production. We will share our progress in this area with you in the days to come," RIL CMD Mukesh Ambani said in a letter to shareholders.

Ambani said that the exploration programme was going on "full throttle" and the signs were very encouraging.

"We believe that we will emerge as a significant producer of energy, both of oil and natural gas," he said, adding that RIL has become the first private sector company to cross the Rs 9,000 crore (2 billion dollar) mark in terms of net profit.

On the retail expansion, Ambani said RIL was planning a pan-India footprint of multi-format retail outlets to provide the customer with choice in products and services.

"All the outlets will be connected seamlessly through a state-of-the-art supply chain infrastructure," Ambani said, adding this initiative has been assiduously planned to connect the Indian farmer and the producer with the consumer directly.