Saudi Aramco in talks with Reliance for joint investment in petchem, refinery projects

Saudi Aramco, the world's largest oil exporter, Wednesday said it is in talks with Reliance Industries and other Indian companies for investing in petrochemicals and refinery projects in the country.

The Saudi national oil company, which along with its partner UAE's Adnoc has taken a 50 per cent stake in a planned USD 44-billion mega refinery-cum-petrochemical complex in Maharashtra by state-owned oil companies, has bullish outlook on India's energy demand; and is keen on investing here.

Saudi Aramco CEO Amin Al-Nasser said he remains positive on the firm's investment in India, and is working with partners.

Indian partners, he said, are "assuring us that things are going very well.?"
India is an investment priority for Saudi Aramco, he said. "There is a lot of growth potential. We are looking at additional investments in India. We are in discussions with other companies as well, including Reliance Industries."
During that visit, he also held talks with Ambani and he later tweeted: "we discussed opportunities for joint investments and cooperation in petrochemical, refining and communications projects."