Reliance Industries (RIL) has said continuing geopolitical and tariff-related uncertainties may affect crude oil trade flows and demand-supply balance.
“Global crude oil prices continue to remain volatile on the back of dynamic interplay of various factors such as geopolitical volatility in the Middle East, redirection of shipping routes, Opec+ and non-Opec production decisions, regional capacity additions and downstream supply-demand realignments, evolving sanctions and trade tariff regimes and rate of recovery of Chinese economy,” the company said in its FY25 annual report.
Navigating Global Headwinds in the Energy Sector
In a note to shareholders, RIL chairman and managing director Mukesh Ambani said despite global uncertainties and geopolitical turbulence, Indian economy continues to demonstrate unmatched resilience and momentum.
“Today, India is standing tall on the global stage. .In FY25, India’s GDP growth remained nearly double the global average — propelled by robust domestic consumption, infrastructure development, thriving exports and a dynamic digital ecosystem,” he said.
RIL expects fuel demand in the country to remain healthy with increasing economic activity. “Demand for downstream chemical products in India is expected to grow ahead of GDP growth rate, driven by demand from infrastructure, packaging, automobiles and agriculture,” the company said.
It added the oil demand is likely to maintain growth despite EV penetrations, largely driven by strong economic growth, China stimulus measures and possible easing of geopolitical tension.
US President Donald Trump on Wednesday imposed additional tariffs of 25% on Indian goods, citing India’s continued imports of Russian oil. The new tax will raise duties on some of India’s exports to 50%.
On the business front, Ambani said RIL’s manufacturing infrastructure is being future-proofed to support India’s aspiration to become a global manufacturing powerhouse.
He said, India is no longer just following trends — it is setting them. From UPI’s global success to the India AI Mission, from green energy to space tech, India is shaping the future. “This is India’s moment. And Reliance is proud to walk shoulder-to-shoulder with the nation — as a committed partner, a responsible value-creator, and a technology-driven enabler of inclusive growth,” he said.
He highlighted how from energy to entertainment, retail to digital services, RIL is integrating next-generation technologies across every business vertical. He added over 1,000 of its in-house scientists are leading cutting-edge research in areas like AI, renewable energy, advanced materials, and digital platforms.
Each of RIL’s platforms is technology-first, innovation-led, and positioned to disrupt industries while delivering massive value to Indian consumers and the global market, he said.
The company’s O2C and oil and gas businesses will continue to grow while catering to India’s rising energy and materials demand, he added.
RIL’s Bet on India’s Domestic Resilience and Growth
“We are not just scaling businesses — we are building platforms that empower people, reduce inequality, drive sustainability, and elevate India’s position in the global economy. Whether it’s transforming the way Indians shop, consume data, watch content, or power their homes and businesses — Reliance is shaping the future with purpose and conviction,” Ambani said.
The annual report says the company remains committed to maintain a strong liquidity position and a robust capital structure to enable organic growth and strategic investments.
” The company generates strong cash flows, enabling it to fund strategic initiatives, service debt, and deliver long-term value to shareholders. RIL will continue to prioritise prudent capital allocation within a robust risk management framework to achieve its strategic goals,” it said.
RIL said it seeks to spearhead green transformation by deploying innovative solutions and implementing decarbonisation strategies, reflecting its commitment to achieve net-zero emissions and supporting India’s broader aspirations for energy security,
“This transition from fossil fuels to greener energy solutions—requiring significant investments in skills, technology and large-scale manufacturing— continues to reinforce the company’s commitment to developing its new materials and new energy business,” the report said.