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Reliance creates biggest refining operations

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Reliance creates biggest refining operations

Reliance Industries, India's largest listed firm, on Monday said it is to absorb its 70 percent-owned Reliance Petroleum unit through a share offer, creating the world's largest refining complex. Reliance official also said that the move would boost earnings from year one -- at a time when world crude oil prices have slumped 71 percent since hitting a record high last July.

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