Reliance establishes new trading arms
India’s oil & gas company Reliance Industries, part of Reliance Group, is to set up two new trading subsidiaries in London and Singapore.
The new trading business, called Reliance Global Energy Services, will “tap the emerging opportunities in global markets of petroleum products,” according to a company statement.
The London business will be headed by Peter Ward, an industry veteran who was formerly president of Shell Trading’s gas and power division, while the Singapore office will be led by Michael Ng.
Ng was recently the president of oil & biofuels trader Fair Energy, and has also been the head of Shell’s international
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