Saudi Aramco interest in Reliance Industries upstages PSU mega refinery

The oil-to-chemicals division of RIL comprises refining, petrochemicals, and fuel marketing businesses

With Mukesh Ambani-led Reliance Industries (RIL) announcing investment by global oil major Saudi Aramco in its $75-billion oil-to-chemicals business, doubts over the future of the proposed West Coast refinery have again surfaced.

Though government sources are confident over Saudi Aramco continuing with its committed participation in the refinery planned by state-owned companies, the question is whether the oil producer will simultaneously be part of the two refineries in India. 

Saudi Aramco had plans to come up with the $44-billion West Coast refinery project in Maharashtra, for which it had formed a joint venture with Indian state-run oil-marketing companies (OMCs) —