Our Bureau

Mumbai, Oct 31

RELIANCE Industries today said that all purchases of Iraqi crude oil supplies made by the company were done at prevailing international prices and that "no other payments were involved in these purchases."

The Volcker Committee report has clearly brought out these facts, said a statement from the company.

The context was the Volcker report on the oil-for-food programme on which media reports had made reference to Reliance Industries, the statement added.

"The company would like to make it abundantly clear that it purchased Iraqi crude oil from suppliers, pursuant to UN-approved contracts under the `Oil-for-Food Programme' for use in its refinery," it said.

(This article was published in the Business Line print edition dated November 1, 2005)
XThese are links to The Hindu Business Line suggested by Outbrain, which may or may not be relevant to the other content on this page. You can read Outbrain's privacy and cookie policy here.