Reliance Industries Emerged as the World's Second-Largest Energy CompanyJuly 27, 2020 16:21
(Image source from: Economictimes.indiatimes.com)
Reliance Industries Emerged as the World's Second-Largest Energy Company:- Reliance Industries Chairman Mukesh Ambani is already named as the Asia's richest man. Now, Reliance Industries emerged as the second-largest energy company in the world after Saudi Aramco piled. Reliance Industries gained 4.3 percent on Friday adding 8 billion USD and its market value reached 189 billion USD and Exxon Mobil lost about 1 billion USD. The shares of Reliance Industries crept up by 43 percent this year and the Exxon's shares went down by 39 percent. Aramco is on the top with 1.76 trillion USD and the biggest energy company in the world.
Mukesh Ambani and Reliance Industries have been expanding the digital and retail arms of the company and they attracted 20 billion USD of investments for Reliance Jio. This added 22.3 billion USD of wealth to Mukesh Ambani and he is on the top of the richest businessmen. From Google to Facebook, Reliance Industries has been extremely successful in attracting investments in the fastly expanding digital firm in India. Millions of oil barrels are left unsold and giants like Exxon and Chevron Corporation slid down.