Mumbai, Oct. 13 -- Reliance Industries Ltd (RIL), which operates one of the world's most advanced refineries at Jamnagar in Gujarat, is expected to see a boost to its refining margins after ramping up purchases of Venezuelan crude oil in October.

The heavy, sour Merey 16 crude from Venezuela is difficult to process, making it less attractive to most refineries despite being available at a significant discount. However, RIL's ability to refine the grade profitably gives it an edge over peers, experts said.

This adds to the benefit Reliance is already reaping from fuel cracks being at an all-time high, the experts added. Cracks refer to the difference between the price of a barrel of a refined product and that of crude oil. For instance, ...