据普氏能源资讯7月23日报道，印度炼油和石化公司信实工业 (Reliance Industries Ltd .)上周五表示，该公司4月至6月当季炼油毛利率同比下降22.9%，至8.10美元/桶。总炼油利润率（GRM）也比前一季度(1-3月)低1.2%。

由于产品收益率优化和稳健的风险管理，信实的GRM在第一季度超过了复合利润率，高出4.6亿美元。信实董事长兼总经理 Mukesh D. Ambani表示:“在需求增长放缓、供应增加的环境下，我们的下游业务表现强劲。”

今年第一季度，信实在Jamnagar的炼油厂加工了1,750万吨原油，同比增长5.4%。该工厂复杂的加工流程能处理低品位原油，并根据市场价格在不同燃料之间进行转换。信实拥有3300万吨/年(66万桶/天)主导国内市场的炼油厂和3520万吨/年的出口导向型炼油厂。

2018-2019年，信实工业在Jamnagar综合炼油厂的总炼油能力为6820万吨/年(约136万桶/天)，这使其成为了世界上最大的炼油综合企业。该公司首席财务官Alok Agarwal在周五的董事会会议后对记者表示："回顾过去的六至八个季度，我们发现能源行业艰难的经营状况。"

信实工业的目标是到2030年将Jamnagar炼油厂的总炼油能力提高到1亿吨(约200万桶/天，该公司本季度从印度出口的成品油为1,010万吨，上年同期为930万吨，其在经济特区的出口导向型炼油厂可以生产任何等级的汽油和柴油。它主要在非洲国家销售产品。

信实表示，印度国内需求在本财年(2019-2020年)第一季度保持稳定。一季度，汽油和柴油需求分别增长10%和2.1%，石脑油和液化石油气需求分别下降18.6%和1.5%。该公司预计，2019年全球石油需求将以120万桶/天的速度增长。这是基于对2019年下半年需求增长将更为强劲的预期，受油价相对较低和石化产品需求反弹的支撑。该公司表示，2019年上半年，由于贸易紧张导致经济增长放缓，需求增长也相对放缓。

信实的KG-D6区块在二季度生产了56.6亿立方英尺的天然气，同比下降57%。该公司表示，产量下降主要是因为MA油田停产，产量下滑。R-Cluster开发项目有望在2020年年中生产第一批天然气。

信实西部近海Panna-Mukta油田在本季度生产了84万桶原油和112亿立方英尺天然气，同比分别下降了13%和12%。产量下降主要是因为装载问题，油气田关井，以及6月份Vayu飓风期间的5天停产。

尽管国内对聚酯和聚合物的需求同比增长6%和7%，但该公司还是关闭了工厂，因此，该公司第一季度的石化产品产量同比下降5.4%，至870万吨。Agarwal称，由于产能过剩，对二甲苯市场几乎触底，但预计未来两个季度将会稳定下来。

信实在印度聚合物市场占据主导地位，约占44%的市场份额。该公司表示，在利润率提高和原材料成本下降的背景下，聚酯市场需求出现复苏。

邹勤 摘译自 普氏能源资讯

原文如下：

India's Reliance sees 22.9% fall in gross refining margin for April-June

Indian refining and petrochemicals giant Reliance Industries Ltd posted a 22.9% year-on-year fall in its gross refining margin for the April-June quarter to $8.10/b, the company said Friday.

The GRM was also 1.2% lower than the previous quarter (January-March) due to lower product cracks.

Reliance's GRM outperformed Singapore's complex margins by $4.6/b in Q1 due to product yield optimisation and robust risk management.

"Our downstream businesses delivered resilient performance in an environment of slower demand growth and incremental supplies," said Mukesh D. Ambani, chairman and managing director of Reliance.

Reliance's refineries at Jamnagar processed 17.5 million mt of crude in the first quarter, up 5.4% from a year-ago period. The complex processes low-grade crude and switch between fuels depending on market prices. It has an older 33 million mt/year (660,000 b/d) domestic-focused refinery and a 35.2 million mt/year export-oriented refinery at the complex.

RIL's total refining capacity at the Jamnagar complex stood at 68.2 million mt/year (around 1.36 million b/d) in 2018-19, making it the world's biggest refinery complex.

"This was the quarter in which we saw some of the toughest operating conditions in our energy businesses as we look back over the last six to eight quarters," CFO Alok Agarwal told reporters after the board meeting Friday.

RIL aims to raise its total refining capacity at the Jamnagar complex to 100 million mt (around 2 million b/d) by 2030.

Reliance's exports of refined products from India stood at 10.1 million mt in the quarter, against 9.3 million mt a year ago.

Its export-oriented refinery in the special economic zone can produce gasoline and diesel of any grade. It mostly sells products in African countries.

Reliance said India's domestic demand remained stable in the first quarter of the current fiscal year (2019-20). In Q1, demand for gasoline and diesel grew by 10% and 2.1%, respectively, while naphtha and LPG demand reduced by 18.6% and 1.5%, respectively.

Reliance forecast global oil demand growth at 1.2 million b/d in 2019. This forecast is based on expectations of stronger demand growth during the second half of 2019, supported by relatively lower oil prices and rebound in petrochemicals demand. In the first half of 2019, the demand growth was relatively slower on the back of decelerating economic growth from trade tensions, the company said.

Reliance's KG-D6 block produced 5.66 Bcf of natural gas in the April-June quarter, down 57% year on year. The fall was mainly because of production cessation at MA oil field along with natural decline, the company said. The R-Cluster development project remains on track for the first round of gas output by mid-2020.

Reliance's western offshore Panna-Mukta fields produced 840,000 barrels of crude and 11.2 Bcf of gas during the quarter, a reduction of 13% and 12% year on year, respectively.

The lower production is mainly due to natural field decline, shut-in of wells due to integrity/loading issues and five days shutdown during the Cyclone Vayu in June.

The company's Q1 petrochemical volumes fell 5.4% year on year to 8.7 million mt , mainly on account of a shut down despite domestic demand for polyester grew 6% and polymer grew by 7% year on year .

Agarwal said paraxylene markets were almost bottomed out due to over capacities but expected to settle down in the next two quarters.

RIL dominates its leadership position in the Indian polymer market with around 44% share.

Polyester markets witnessed a revival in demand amidst improved margins and a decline in raw material cost, the company said.