Aramco still aims for US$15b investment in India’s Reliance

The Business Times | Aug 10, 2020 at 2:00 AM
  • Saudi Aramco said it’s still working on a deal to buy a US$15 billion stake in Reliance Industries’s refining and chemicals business, even as lower oil prices forces it to slash investment spending.
  • A deal with Reliance would help the world’s biggest crude exporter join the ranks of the top oil refiners and chemical makers.
  • The Reliance transaction would help Aramco reach its goal of more than doubling refining capacity to between 8 million and 10 million barrels a day.