Reliance, Inc. (RS)
Pre-Market:
- Reuters
Reliance buys its first Canadian crude from Trans Mountain pipeline, sources say
(Reuters) -Reliance Industries has bought 2 million barrels of Canadian crude from Shell for July delivery, marking the Indian refiner's first oil purchase from Canada's new Trans Mountain pipeline, trade sources said. Reliance joins a growing group of Asian refiners in buying Canadian crude to be exported from the new pipeline which is scheduled to start transporting oil in May. The Canadian government-owned pipeline expansion will nearly triple the flow of crude from Alberta to Canada's Pacific Coast and open up access to Asia and the U.S. West Coast. Shell will perform ship-to-ship transfers to move about four 500,000-barrel cargoes of Access Western Blend (AWB) onto a Very Large Crude Carrier and ship the oil to the Sikka port, the sources said, where Reliance operates the world's biggest refining complex.
- Zacks
Reliance (RS) Loses -13.04% in 4 Weeks, Here's Why a Trend Reversal May be Around the Corner
The heavy selling pressure might have exhausted for Reliance (RS) as it is technically in oversold territory now. In addition to this technical measure, strong agreement among Wall Street analysts in revising earnings estimates higher indicates that the stock is ripe for a trend reversal.
- Simply Wall St.
Reliance First Quarter 2024 Earnings: Misses Expectations
Reliance ( NYSE:RS ) First Quarter 2024 Results Key Financial Results Revenue: US$3.64b (down 8.1% from 1Q 2023). Net...
