Saudi Aramco To Enter India

The stock of Mukesh Ambani-controlled RIL had hit a record high of Rs 1,978.50, up 3 per cent in early morning trade

The deal was to be concluded by March 2020 but has been delayed.

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Aramco also has a wholly-owned subsidiary in India called Aramco Asia India which is engaged in purchasing and other services.

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

The Saudi government has said it plans to sell about 5 per cent of Aramco, hoping to raise some $100 billion