Essar Oil may maintain GRM on par with RIL
Analysts feel that the Gross Refining Margin (GRM) of Essar Oil would continue to match that of Reliance Industries (RIL) as the former has increased the complexity of its refining units. Essar Oil raised its refinery capacity to 405,000 barrels per day from 300,000 previously and its complexity has been raised to 11.8 from 6.1. RIL operates the Jamnagar refinery, which has a capacity of 660,000 barrels per day and complexity of 11.3, as defined by the Nelson Complexity Index.