The Refinery industry comes under Energy group. It’s a commodity type industry.

Industry Strengths

Hugh refinery capacities in India and now India is an exporter of petroleum products
No substitute and customers have to pay the mandated prices
Huge and growing demand for crude and gas from industrial sector where it is used for power generation
Hugh and growing demand for gas like LPG and fuel like kerosene from domestic sector

Industry Weakness

Raw materials, crude oil and gas are largely imported and subjected to fluctuating prices
Crude oil supply is controlled by OPEC which influences the price
High level of government involvement
Heavily dependent on subsidies from government
Capital intensive, long gestation periods and high risk
Impacted negatively by weak rupee

Growth Drivers

Global economic growth which leads to increasing demand for crude oil and gas
Government proactive policies aimed towards India’s energy security
Government incentives to promote the sector especially to foreign and Indian private players.
High demand from aviation, power generation, fertilizer and road transportation sector
Growing industrial and domestic consumption

Reliance Industries Limited (RIL) is the largest private player in the refining, petrochemical and E&P sectors in India. While RIL’s refining complex in Jamnagar is the largest in the world and among the most complex, it is also among the largest integrated petrochemical producers globally. Apart from E&P in India, RIL has made significant investments in US shale gas. In terms of EBIT, Refining contribute 60% and Petrochemicals 30%.

Business also includes manufacturing of refined petroleum products, and petrochemicals, including manufacturing of basic chemicals, fertilizers and nitrogen compounds, plastic and synthetic rubber in primary forms.
Segments and Products,

The Company's segments include
1.Refining,
2.Petrochemicals,
3.Oil and Gas,
4.Organized Retail and
5.Telecom

The Refining segment includes production and marketing operations of the petroleum products.
The Petrochemicals segment includes production and marketing operations of petrochemical products, including polyethylene, polypropylene, polyvinyl chloride, poly butadiene rubber, butadiene, acrylonitrile, caustic soda and polyethylene terephthalate.

The Oil and Gas segment includes exploration, development and production of crude oil and natural gas. The Organized Retail segment includes organized retail business in India.

The Organized Retail segment includes textile, Special Economic Zone (SEZ) development,
The Telecom segment includes telecom services, broadband business and media.