The Reliance Industries - BP partnership has been one of the biggest corporate deals to head India’s way in a long time. It is a matter of immense significance and noteworthy because a deal of such magnanimous proportions was a result of persistent effort and resilience of Reliance Industries Limited (RIL’s) chairman Mukesh Ambani.
Recently, RIL – BP joined forces to collaborate into a deal that will see two global giants in the energy quarters pushing the mettle into deriving superior output with world-class technical excellence. This deal will see India draw the largest FDI in the recent history, subjecting India’s energy reserves to world-class buttressing of sorts.
For almost four years, Mukesh Ambani had been on the look for a strong global partner that will help RIL realize its pursuit of collaborative growth. Even though, unlikely forces halted the process many times, Mukesh Ambani was resolute on gaining the partnership of a global leader that would enable Reliance’s core enterprise to evolve into a world-class, technically sound and fiscally amplified entity.
The U.K. based British Petroleum (BP) fit bill perfectly. BP showed interest in Reliance’s ambitious outing, but a deal failed to materialize initially due to the economic meltdown of 2008. This period of economic slowdown saw many major economies of the world cave in to the recession in world trade. Even in such ferment state of things, Reliance was able to stay afloat and beat the vice formidably. Although, the period saw a tremendous crash in global oil prices, RIL put in efforts to channelize resources towards its subsidiaries that enabled a successful run through.
Later, when Mukesh Ambani resumed talks with BP for a prospective deal, the global giant encountered a massive setback with the Gulf of Mexico oil spill. Relentlessly, BP moved ahead of this chapter with resilient and extricable efforts.
Eventually, RIL and BP picked up the talks and finally settled on deal that will be inked in history as one of the paramount. The mutual collaboration of these giants will see a marriage of two super-powers that will orient benefits both industrially and economically.Labels: Mukesh Ambani, Reliance Industries Limited, RIL