Tuesday, November 5

Tag: mega oil refinery project

India to give 50% stake to Saudi Aramco in Mega Refinery
BUSINESS

India to give 50% stake to Saudi Aramco in Mega Refinery

Saudi Aramco, an alliance of India state refineries has agreed to build a mega refinery based petrochemical project on India's west coast for an estimated $44 billion, as per the sources involved in the oil deal. The move will grant 50 percent stake to Saudi Aramco, in a planned 1.2 billion barrel per day amount granting the oil kingdom a new outlet for its oil. Khalid al-Falih, Saudi oil minister is expected to visit Delhi for International Energy Forum post which the preliminary agreement on the deal will be announced by Wednesday. We see India as a priority for investments and for our crude supplies,” Saudi Arabia Energy Minister Khalid al-Falih said. "We see India as a priority for investment as well as crude oil.We are very much interested in retail and want to be consumer...