The Saudi oil giant's deal with Reliance Industries and Mukesh Ambani includes a stake in the Jamnagar Refinery in India.
Saudi Aramco has agreed to acquire a 20% stake in Reliance Industries' refining and petrochemicals business, which is valued at $75 billion. The $15 billion deal between the world's largest oil producer and Asia's richest man, Reliance chairman and largest shareholder Mukesh Ambani, gives the Saudi Arabian company a stake in the world's biggest refinery. Reliance will purchase 500,000 barrels of crude oil a day from Saudi Aramco as part of the deal.
Saudi Aramco has agreed to acquire a 20% stake in Reliance Industries' refining and petrochemicals business, which is valued at $75 billion. The $15 billion deal between the world's largest oil producer and Asia's richest man, Reliance chairman and largest shareholder Mukesh Ambani, gives the Saudi Arabian company a stake in the world's biggest refinery. Reliance will purchase 500,000 barrels of crude oil a day from Saudi Aramco as part of the deal.
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