Tuesday, November 1 2005 16:47 Hrs (IST) - World Time -

Mumbai: Denying any wrongdoings, the Reliance Industries Ltd (RIL) today (Nov 01, 2005) said it had purchased Iraqi crude oil from suppliers pursuant to UN approved contracts under the Oil for Food Programme and all such purchases were made at prevailing international prices.

The company was reacting to media reports about Volcker Committee's report on the Iraqi "Oil for Food Programme" having a reference to Reliance Industries Ltd (RIL).

In a statement here, RIL said "Reliance Industries categorically states that the company made all purchases of Iraqi crude oil suppliers at prevailing international prices." Apart from payment at prevailing price of crude oil, no other payments were involved in these purchases, the company said adding the Volcker committee report had clearly brought out these facts.