Reliance Industries overtakes Exxon to become world’s No. 2 energy company

Reliance Industries Ltd toppled ExxonMobil Corp to become the world’s largest energy company after Saudi Aramco, as investors piled into the conglomerate lured by the Indian firm’s digital and retail forays. Reliance, which manages the biggest refinery complex, gained 4.3% on Friday adding $8 billion to take its market value to $189 billion while Exxon Mobil erased $1 billion.