Saudi Aramco Indian Project

The project is joint venture between Saudi Arabian oil companies, Aramco and Adnoc, and Indian companies, Indian Oil Corporation, Bharat Petroleum Corporation, and Hindustan Petroleum Corporation

This is in addition to the $44-billion Ratnagiri refinery in Maharashtra, for which Saudi Aramco and UAE's Adnoc are partnering with Indian oil marketing companies

Saudi Aramco signed an agreement in April with a consortium of state-owned Indian refiners to participate in a $44 billion refinery project on the country's west coast

Majority of the farmers from 14 villages around Ratnagiri that need to be relocated for the refinery project firmly oppose the plan.

Representatives of Aramco held a marathon meeting with their counterparts from Indian companies on Tuesday

Like other major oil producers, Aramco wants to tap rising demand growth opportunities and invest in the world's third-biggest consumer

Saudi Aramco accounts for about 19% of India's crude oil imports and 29% of LPG imports

Company is investing in refineries in major markets to lock in customers ahead of its initial public offering next year

He adds, 'We're talking to our Saudi Arabian colleagues to invite investment from Aramco'