Posts Tagged ‘Reliance Indstries Limited’

Reliance Jio Announces Festive Sale of JioPhone 2

November 2, 2018

Reliance Jio, the telecom wing of the Mukesh Ambani-led Reliance Industries Limited (RIL), has announced a limited-period sale of the Reliance JioPhone 2, its 4G-enabled feature phone, days ahead of Diwali. According to the telecom company’s website, the festive sale of the handset will begin at noon on November 5, 2018, and end on November 12, 2018. This is the first festive sale of the handset after several flash sales in the past few weeks.

About the Reliance JioPhone 2

The telecom company had introduced the Reliance JioPhone 2 in August 2018. It a feature-phone, which can operate with 4G technology. Mobile apps such as JioMusic, MyJio, JioVideoCall, JioCinema, JioTV, and JioPay come on the Reliance JioPhone 2 as preloaded. Customers can also download more mobile apps as and when they wish.

Details of prepaid recharge packs

According to the telecom company’s website, Reliance Jio currently offers customers three prepaid recharge packs for the Reliance JioPhone devices. It offers 1-42 GB of high-speed 4G data in the three packs, among other benefits.

The lowest-priced JioPhone plan is worth INR 49. This plan has a validity period of 28 days and offers users 1 GB of total high-speed data benefit. It also offers free unlimited voice calling, 50 free text messages, and a complimentary subscription to Jio Apps.

The second prepaid recharge plan is priced at INR 99. It has a validity period of 28 days and offers users 0.5 GB of total high-speed data benefit per day. This means that users get a total of 14 GB of high-speed 4G data to use per month. This plan also offers free unlimited voice calling, 300 free text messages, and a complimentary subscription to Jio Apps.

The third prepaid recharge plan offered by Reliance Jio is worth INR 153. This plan has a validity period of 28 days and offers Reliance Jio users 42 GB of total high-speed data benefit. This means that users get 1.5 GB of 4G data to use per day. This plan also offers free unlimited voice calling, 100 free text messages per day, and a complimentary subscription to JioApps.

Specifications of the JioPhone 2

The JioPhone 2 costs INR 2,999. It runs on the KaiOS operating system. It features a QWERTY style keypad, a 2 MP rear camera, and a 0.3 MP front camera. It also features a 4 GB ROM, a 512 MB RAM, and a 2000mAh removable battery.

The progress of Reliance JioPhone

Reliance Jio has stated that voice commands being used on the Reliance JioPhone platform are surpassing those on smart-phones by approximately five times. Users of the 4G-enabled feature-phones are spending more time utilizing the Internet and apps than smart-phone users. Recently, WhatsApp, the popular messaging app, has been introduced to the Reliance JioPhone platform as well.

Summary: Reliance Jio has announced a limited-period festive sale of the Reliance JioPhone 2. The telecom company offers three affordable prepaid recharge plans to users of its JioPhones.

Reliance Jio Announces the JioHealthHub App in India

August 10, 2018

Reliance Jio, the telecom wing of the Mukesh Ambani-led Reliance Industries Limited (RIL), has announced a health and fitness app called JioHealthHub. The purpose of this app is to help users organize their health-related documents and reports in one place, which may later be shared with other people. To help expand its presence in the medical consultation space, Reliance Jio has entered into several partnerships with online platforms like iCliniq and Portea.

Details of the JioHealthHub app

The JioHealthHub app is listed on Reliance Jio’s Google Play listing. However, the app is not released yet. According to the online description, JioHealthHub is an app, which one may use to store medical data in the cloud. This data can be accessed from any location and on any device with secure credentials. This means users may carry electronic copies of their health-related documents with them at all times and dispense with laboratory reports, physical files, test film, and the like.

The company also has tie-ups with medical laboratories and hospitals, which will push medical reports to the JioHealthHub app automatically. The app also has a feature to store medical documents from non-partner hospitals within the app. To do this, users may click a picture of the reports with their smart-phones and store the image in the app.

Partnership with iCliniq

Reliance Jio has collaborated with iCliniq, a Coimbatore-based online doctor consultation platform. This is in an effort to help expand JioHealthHub’s presence in the medical consultation app arena. With the help of this partnership, Jio users will be able to consult various doctors across 60 specialties via chat on an instant basis. The offering is called #icliniq50hrs and will soon provide the facility of video chat as well.

Dhurv Suyamprakasam, the CEO of iCliniq, stated that JioHealthHub has major capabilities and Reliance Jio may transform the Indian healthcare market space with it.

Partnership with Portea

Reliance Jio has also partnered-up with Portea to introduce a home healthcare angle to JioHealthHub.

Opinions of industry sources

According to industry sources, JioHealthHub will add more providers across the fitness and healthcare areas to build its ‘360-degree’ healthcare platform. Industry sources have also stated that Reliance Jio can make a strong push into healthcare with its experience and cash reserves. This may make India’s online healthcare ecosystem a competitive and responsive market.

Vaibhav Agarwal, Partner at Lightspeed India, stated that technology companies face challenges of expenditure, scaling, trust, and distribution. He further stated that Reliance Jio’s entry into the healthcare ecosystem may help startups grow without having to face high expenditures. Agarwal added that Reliance Jio may introduce an open garden type of strategy, wherein different vendors may compete. Alternatively, the company may wish to have one preferred vendor.

Reliance Jio’s foray into other sectors

It is reported that Reliance Jio may also cover ground in several other sectors like content and education. Recently, the telecom company Jio secured a majority stake in Embibe, an online education platform.

Summary: Reliance Jio announces JioHealthHub, its new health and fitness app. The company has entered into several partnerships to expand the reach and usability of the app across India.

RIL is the Most Profitable Company in the Nifty 50 List

September 16, 2016

Mukesh Ambani led Reliance Industries Limited’s (RIL) digital arm, Reliance Jio is creating waves in the market with its new 4G venture. Within a short span of time, Jio managed to attract a large user base through its preview offer, which included free HD voice calls, video calls, and high-speed Internet services for a period of three months.

RIL’s position in Nifty 50

Therefore, it does not come as a surprise that Reliance Industries Limited has now gained a premium position in the business world. The company’s ranking as the most profitable in the Nifty 50 is testimony to this. RIL managed to make it to the top because of its contribution to the Nifty 50 aggregate net profit, which has been calculated as the largest.

Highest net profit

Reliance Industries surpassed competitors like TCS to emerge as the company with the highest net profit in the April to June 2016 quarter. While TCS reported a profit of Rs. 6318 crore, Reliance scored 12.6% higher than the company, thereby leading TCS to gain second position in the Nifty 50. Reliance Industries reported a total net profit of Rs. 7113 crore and therefore emerged first in the list.

SEBI’s extension

SEBI decided to extend the results season by a month for Nifty in the April to June 2016 quarter. Additionally, this decision gave India Inc. time to implement the Ind AS accounting standards, which was recently introduced. Rs. 69,793 crore has been the estimated Nifty 50 aggregate net profit for the quarter.

RIL leads in the energy sector

Moreover, RIL also proved tough competition for players like ONGC with the oil company reporting a net profit of Rs. 4232.5 crore. However, RIL’s energy sector counterpart, ONGC scored 68.1% lower than Reliance Industries. This has managed to give RIL yet another impetus, considering that ONGC has been a constant performer in the energy sector.  Reliance managed to surpass the previous year’s aggregate net profit which was 8.1% and acquire 10.2% this year. Furthermore, RIL managed to contribute this aggregate net profit all by itself. Additionally, the private conglomerate is expected to maintain consistency with regard to this contribution owing to the multiple large-scale projects that are expected to be launched in the upcoming years by RIL.

Nifty index

As on 14th September, 2016, the market closed at 8762.6, with the price-to-earnings ratio of Nifty estimated at 23.9 and its EPS at 364.8. It should be noted that Nifty’s aggregate net profit is affected with every additional rupee. Moreover, this also leads to an improvement in the index’s EPS. Therefore, it is imperative that the Nifty 50 companies’ earnings growth increase to maintain the sustainability of the present level of Nifty’s index.

Over the last one year, Mukesh Ambani led Reliance Industries’ scrip has increased by more than 21%. Additionally, Reliance was also able to make an improvement in its position in Nifty by garnering 5.4% (September 2016) as compared to 5% in the previous year’s corresponding period (September 2015).

Summary

Reliance Industries Limited makes the largest contribution to the aggregate net profit of Nifty, thereby making it rank first in Nifty 50.

Reliance Retail Launches LYF WIND 2 Phablet at Rs. 8,299

August 4, 2016

Mukesh Ambani led Reliance Retail recently launched another device under its LYF brand called the WIND 2, at Rs. 8,299. The reasonably priced phablet is available for purchase from all Reliance outlets and other smart phone retailers across the country.

LYF WIND 2

Sporting a metallic frame and a sleek glass display, the WIND 2 smart device offers a dual SIM facility. The device approximately weighs 233 grams and is 157.5mm x 81mm x 8.5 mm in terms of dimensions. The phablet’s screen is an HD 6-inch touch screen which facilitates five simultaneous touch points.

Storage capacity

WIND 2 offers 2GB RAM and 16GB of internal storage. Users may utilize the second SIM slot for inserting a microSD card in order to boost the storage of the phablet, which is expandable up to 32GB.

Software

WIND 2 runs on Android 5.1.1 Lollipop and is powered by a 64-bit quad-core MediaTek 6735M processor. Four of its ARM Cortex A53 cores function simultaneously at the speed of 1GHz in order to elevate user experience. Graphics are supported by the Mali T720 MP1 GPU that operates with a single core running at 600MHz.

Cameras

The front and back cameras of this phablet allow users to capture photographs at a resolution of 2MP and 8MP respectively. The rear camera has an inbuilt LED flash and allows individuals to enjoy features like the Multi-Angel View and Auto Scene Detection. The front camera offers features like Smile Detection and Facial Recognition. Additionally, the device records videos at 30 frames per second on a 720p resolution.

Battery life

The device’s battery is made of lithium-ion and is non-removable. The 2850 mAh battery allows a user to play HD videos for 6 hours or remain on standby mode for a period of 190 hours when fully charged.

Connectivity

The smart device supports Cat 4 LTE as well as VoLTE technologies. It also offers users connectivity options like Wi-Fi, Bluetooth, GPS, MicroUSB port, and USB OTG. USB OTG allows individuals to connect pen drives to their devices with the help of adapters. This can aid the easy transfer of data. 

LYF smart phones

Mukesh Ambani owned Reliance Digital recently announced another price cut on a few of its smart phones. Prior to the launch of Jio’s 4G services, Reliance is aiming to widen its reach by making 4G smart phones equipped with LTE technology affordable for the masses.

LYF WATER 7 is now available for purchase at Rs. 9999, WIND 5 at Rs. 5999, WIND 6 at Rs. 4999, and FLAME 1 at Rs. 4199. This indicates a discount of Rs. 3000, Rs. 1000, Rs. 1000, and Rs 800 respectively.

The highlights of these devices are the free Jio services. LYF users are granted access to unlimited VoLTE voice calling, high-speed 4G data services, and Jio’s premium applications. The applications range from music streaming services, live TV streaming, to an antivirus application.

Summary

Reliance Retail’s LYF brand launches WIND 2, an affordable phablet at Rs. 8299.

“SHE WALKS, SHE LEADS” by GUNJAN JAIN

July 22, 2016

Mumbai, 21st July, 2016: An avid reader who is also a compulsive writer, a thought leader, often sharing her discernment at public forums, Gunjan Jain along with Penguin Random House India today launched her debut book – She Walks, She Leads in Mumbai. The book is an anthology of 24 women achievers who are at the pinnacle of their profession. The anthology is likely to be the first of its kind in the global publishing industry to feature over 150+ leaders who have authorized their presence and is likely to be in Guinness for its achievements. The first copy of the book is releasing on 15th of August 2016 and will be available at all the leading bookstores across India for Rs. 799.Nita Ambani at the Book Launch Event

Ms. Nita Ambani and Mr. Deepak Parekh supported the launch event in the city and invited their key guests for the evening. Some of the prominent faces in attendance were Mr. Shahrukh Khan, Mr. Mukesh Ambani, Ms. Isha Ambani, Mr. Anant Ambani, Mr. Akash Ambani, Ms. Anupama Chopra, Ms. Chhaya Momaya, Mr. Gautam Singhania, Ms. Nandita Das, Ms. Parmeshwar Godrej, Ms. Rajashree Birla, Mr. Subhash Chandra, Ms. Zia Mody, Mr. Kumar Mangalam Birla & Ms. Chanda Kochhar etc. The evening kicked off with welcome remarks and opening speech by Ms. Nita Ambani and Mr. Ajay Piramal followed by book unveiling and book reading by Ms. Swati Piramal. This was trailed by a panel discussion with Mr. Ajay Piramal, Mr. Adi Godrej and Mr. Suhel Seth on ‘The Pursuit of Success: Do men and women do it differently?’

Nita Ambani at the launch of Book-She Walks, She Leads.jpg

She Walks, She Leads, covers 24 women across 24 chapters, each based on extensive interviews with the protagonist and enlivened with the views and comments by her professional associates, peers, friends and family members. More than 130 leading personalities from a wide range of professions have lent their voices on these featured women providing rare insights of their life and considerably enrich their stories.

Women featured in book are Ms. Nita Ambani, Ms. Sudha Murty, Ms. Priyanka Chopra, Ms. Kareena Kapoor Khan, Ms. Sania Mirza, Ms. Saina Nehwal, Ms. Indira Nooyi, Ms. Mary Kom, Ms. Parameshwar Godrej, Ms. Rajashree Birla, Ms. Yasmeen Premji, Ms. Anu Aga, Ms. Chanda Kochhar, Ms. Naina Lal Kidwai, Ms. Kiran Mazumdar Shaw, Ms. Zia Mody, Ms. Swati Piramal, Ms. Shabana Azmi, Ms. Mira Nair, Ms. Anamika Khanna, Ms. Ritu Kumar, Ms. Jyotsna Darda, Ms. Shobhana Bhartia, and Ms. Indu Jain.

“I am delighted to be part of the launch of She Walks, She Leads, which is a remarkable collection of stories about Women who inspire India. I am glad to see a book that acknowledges strong women leaders and their contribution towards the society, from various walks of life like business, art, sports and media. I believe that successful women must be recognized not only because they deserve appreciation but it also encourages other women to face all odds and emerge as successful and confident personalities. Gunjan Jain has a fine ability to express the finest nuances of one’s life for inspiration for all.” Says, Deepak Parekh, Chairman, HDFC Group.

“I have always believed that women have the ability to inspire change to make the world a better place through the multiple roles they play. Gunjan has beautifully crafted different roles of 24 women achievers in her book – stories that exemplify their commitment to excellence in whatever they do and which can inspire a whole generation of women. Congratulations to every woman featured in this book.” Says, Nita Ambani, Founder and Chairperson of Reliance Foundation. 

Nita Ambani with Shah Rukh Khan at the Book Launch.jpg

After immense hard work and meeting with connoisseurs from all walks of life, Gunjan Jain says, “I am thrilled to launch my first book. It’s always been my dream to be an author and inspire people, especially women since I was very close to my mother. Meeting with so many dynamic professionals and writing this book has been a prodigious experience all together. Interacting with the women achievers of India and learning about their stories has been of great privilege. I have immense gratitude for them to take out time from their busy schedules to make my debut book a success.”

Gunjan Jain interviewed more than 130 heads of leading businesses and corporate houses, statesmen and professional personalities who have given their personal views on the woman achiever concerned. Some of the icons who have contributed their thoughts in the book are Mukesh Ambani, Azim Premji, Narayana Murthy, Adi Godrej, Kumar Managalam Birla, Narayanan Vaghul, KV Kamath, Sunil Mittal, Raghav Bhal, Subhash Chandra, Dr Shashi Tharoor, Sanjiv Goenka, Nandan Nilekani, Dr Vishal Sikka, KV Kamath, Ronnie Screwvala, Ajay Piramal, Anand Mahindra, Cyril Shroff, Vijay Mallya, Yuvraj Singh, Sonam Kapoor, Sachin Tendulkar, Karan Johar, Shah Rukh Khan, Akash and Isha Ambani and many others.

Summary

This book is written by a debutant author on women such as Ms. Nita Ambani, Ms. Sudha Murty, Ms. Priyanka Chopra, Ms. Chanda Kochhar, Ms. Sania Mirza, Ms. Saina Nehwal, Ms. Indira Nooyi, Ms. Mary Kom and many others who inspire India.

Reliance Jio gives 4G-enabled Mobile Phones Order to Intex

September 24, 2015

Reliance JioInfocomm, the telecom arm of the Mukesh Ambani-led Reliance Industries, is preparing itself for a commercial launch of its services in December, this year. The company is in talks with many handset manufacturers to promote affordable 4G handsets across the country.

Order given to Intex

Reliance Jio placed an order with Delhi based-Intex Technologies to supply 1 lakh 4G-enabled handsets. The mobile phone manufacturer will deploy its first shipment in October, consisting of 20,000 mobile phones. Reliance Jio was in talks with many mobile phone manufacturers, including Apple, Micromax and Samsung. Intex was the first to bag an order.

To meet the requirements and terms stated by Reliance Jio, Intex came up with a 4G-enabled phone having voice over long-term evolution (VoLTE) technology. Generally, 4G-handsets do not have VoLTE technology, but this technology is necessary for Reliance Jio services and for its network to work on the handsets. An industry expert informed that voice calling under Reliance Jio will not be possible without the VoLTE network.

VoLTE technology is found in iPhone 6 and high-end and expensive Android phones. It offers superior voice quality and reduces the cost of setting up and maintaining the network. In addition, it is completely IP-based, unlike GSM.

A spokesperson of Intex also revealed that the Reliance Jio mobile phones are below the range of Rs. 10,000. However, the telecom company will decide the final selling price. Reliance Jio will be responsible for the distribution of the mobile phones, while the handsets will be sold under the brand name of Intex.

As per first quarter reports of Financial Year 2015 -2016 from the global market research company, International Data Corporation, Intex is the third largest smartphone company in India. It has an 11% market share. The first two companies are Samsung and Micromax with 23% and 17% market shares respectively.

Motorola’s association with Reliance Retail

Motorola, owned by the Chinese company, Lenovo announced that it will sell its phone on popular e-commerce websites. To shoot the offline sale, it will be using large-format stores of Reliance Retail. It will begin its sale from large cities and metros.

Earlier, Motorola used Flipkart exclusively to sell its phones. It has announced these steps to increase its customer reach. Chen Xudong, Chairman of Motorola Mobility operation board said that people in India still largely rely on offline channels and hence the company has decided to take such a step.

Reliance Jio’s first 4G handset

Reliance Jio’s first 4G handset in the country was the recently launched, Lenovo Vibe Shot. The device is photography oriented and is priced at Rs. 19,999. The phone carries Reliance Jio’s branding and has many built-in applications like Jio Experience, Jio Friends, and Jio Drive, among others. The phone is set to capture the upper-mid segment of the smartphone market in India.

Lenovo Vibe Shot has a 5-inches screen, with full-HD resolution display. Its primary camera is 16 megapixels and it is endowed with features like optical image stabilization and a triple-LED dual tone flash. The secondary camera is 8 megapixels.

Summary

Reliance Jio Infocomm Limited placed an order with Intex Technologies for the supply of 1 lakh 4G-enabled mobile phones in the country.

Reliance Jio provides Wi-Fi Services at the Global Investors Meet

September 10, 2015

The next location where Reliance Jio Infocomm Limited, Reliance Industries Limited’s telecom arm, chose to offer its high-speed Wi-Fi services is Chennai. The service known as ‘Jionet’ will be given at the Global Investors Meet, whichis presently being conducted at Chennai in the state of Tamil Nadu.

Global Investors Meet

The conference will be held for two days on 10th and 11th September. The Chief Minister of the state, J.Jayalalithaa inaugurated the conference. The meet has been scheduled to get more and more investments in Tamil Nadu. Reliance Jio became the official connectivity partner of this conference.

Reliance Jio’s services at the conference

A spokesperson from Reliance Jio informed that the company has tied-up with this meeting as it wants visitors to experience the digital ecosystem that the company is establishing. The ecosystem will have high-speed data networks and specially created applications. It will also have rich content that will help people to know how it can upgrade their lives.

After deploying the services, Reliance Jio will take feedback from the users regarding their experience. Based on that, the company will fix the loopholes in the system, if any. This will help it to offer flawless and seamless connectivity during the formal launch in December, this year. A statement from the company’s release mentioned that after the Fourth Generation Long Term Evolution (4G LTE) services are initiated,Wi-Fi and LTE networks will work smoothly with each other.

Reliance Jio launching smartphones

Along with the 4G services, Reliance Industries will also be launching entry level 4G-enabled smartphones. The phones will have low prices. The company promised to price them between Rs. 2,000 and Rs. 4,000.

The mobile phones will have inbuilt Jio applications that will be sold under Reliance Industries’ own brand ReConnect. Reliance Retail will be selling the phones. Its electronic branch, Reliance Digital will store the phones in its 1,300 retail stores across the country.

Reliance Jio is in talks with 24 mobile phone manufacturers and five chip makers to roll out a range of devices at varied prices. The company does not want to earn profits from these smartphones. It just needs to set up the ecosystem of devices before its official launch.

Reliance Jio has aimed to capture 10 crore customers out of the total 90 crore present in the world’s fastest growing mobile market. Apart from the cheap phones, there will be other phones too priced till Rs. 20, 000 to meet the needs of all consumers. According to an official of the company, iPhones will be sold at Rs. 20, 000.

Reliance Jio holds 2300 MHz spectrum band all over India. It also holds bands of 800 MHz and 1800 MHz spectrum in 20 circles out of the total 22 across the country. Reliance Jio is making plans to use this spectrum to offer 4G services along with LTE.The launch of Reliance Jio will greatly disrupt other companies in the telecom market.

Summary

Reliance Jio Infocomm Limited is offering its high-speed Wi-Fi services at the Global Investors Meet, currently being conducted at Chennai in Tamil Nadu.

Telecom Companies to Share Spectrum

August 13, 2015

The Union cabinet has now permitted telecom operators to share their spectrum space with each other. This will help the companies to improve their network quality. It will also lower their operational costs as they will be able to utilize the unused airwaves.

As per Telecom Regulatory Authority of India (TRAI), call drops on 2G networks have increased twice and 3G networks have increased by 65%. This decision by the Union cabinet will help telecom companies to reduce the call drops.

Rules of spectrum sharing

The spectrum bands of 2G, 3G and 4G all may be shared. This includes the ones that may be obtained through trading or were allocated. In one circle, only two companies are allowed to share their spectrum. They may share it partially or completely.

On sharing the spectrum, the licensee will have to pay an additional charge that will be half a percent more of the average gross revenue. Telecom companies may pay the charges depending on how they use the airwaves and how much revenue they earn from it.

If any one of the telecom operators has obtained the radio waves by auction or through liberalized spectrum and the other company has spectrum allotted administratively then they both may share the spectrum only after a payment is made to liberalize the allocated spectrum.

If companies are sharing the 800MHz band, which was bought in March 2013 auctions, then the companies will have to pay the difference as per the latest prices.

Spectrum caps will be liable to both the companies, separately. A licensee’s spectrum holding, on sharing, will be evaluated after adding 50% of the spectrum, which is acquired by the other company in the band. This will be determined as an additional spectrum. This evaluation process has been introduced so that companies have 50% spectrum caps in a band and 25% of the total spectrum.

The companies are not allowed to lease the radiowaves or trade the spectrum bands. Besides, companies sharing radio waves need to follow some restrictions in the use of technology. Depending on the lower-end services obtained by the companies, the technology will be determined.

Reliance Jio’s telecom services

Mukesh Ambani-led Reliance Jio Infocomm will roll out its commercial telecom services from December, this year. The long awaited Reliance Jio’s launch of high-speed 4G data will change the landscape of telecom industry in India. Experts predict that the company’s entry will affect the business of many major telecom companies.

Reliance Jio will give its data services in half the price of the current market charges. It will offer services like live TV, music streaming, instant messaging, movies on demand, digital payment platform, etc. It will also offer applications related to the education and healthcare sectors. Its instant messaging app, Jio Chat has already been rolled out.

The Chairman, Mukesh Ambani, feels that Reliance Jio’s high-speed broadband services will play a significant role in propelling Prime Minister, Narendra Modi’s Digital India initiative.

Summary

Telecom companies such as Reliance Jio have now been permitted by the Union cabinet to share their spectrum space with each other

RIL buys 3 mn barrels spot Brazil crude

September 3, 2010

Reliance Industries (RIL), operator of the world’s largest refining complex, bought around 3 million barrels of spot Brazilian crude to arrive in India in the next two months, industry sources said on Friday.

The move was made possible by weaker US crude prices versus European benchmark and lower freight rates, traders said.RIL bought from Petrobras a Very Large Crude Carrier (VLCC) of Roncador Heavy and Albacora crudes to be loaded this month and a Suezmax of October-loading Marlin, a trade source said.
Petrobras has provisionally booked VLCC Olivia to load crude in Brazil on September 28 and head for the Indian west coast at a freight rate of W47.5, a shipping fixture from brokerage Clarksons showed.

RIL has also booked VLCC Vega Star to load crude in the Caribbean on September 30 at a freight rate of $2.7 million.

US crude futures have fallen below ICE Brent with the front month differential between the two grades at its widest level since late May, making South American crudes more affordable to Asian refiners.

Crude oil freight rates on major routes were also mostly lower this week due to growing vessel availability.

More Brazilian crudes are flowing into Asia as Chinese and Indian refiners diversify their crude supplies.

RIL’s purchase of Brazilian crudes jumped to 43,060 barrels per day (bpd) last year, up from 2,760 bpd in 2008.

The company operates two refineries with a total capacity of 1.24 million bpd in Jamnagar.

RIL last bought in April a VLCC of Brazilian crudes from Petrobras for June delivery, the source said.

Rising supplies from Canada and the Bakken oil shale may continue to put downward pressure on the front month spread until “the peak in refinery maintenance passes in six to eight weeks’ time”, JPMorgan analysts said in a September 1 note.

“We retain a cautious view on the WTI-Brent differential in light of the structural supply pressures that we see building at the Cushing delivery point,” the analysts said.