You are here: Home » Economy & Policy » News
Business Standard

India prepared to grant 50% stake to Aramco in west coast refinery: Sources

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

Reuters  |  New Delhi 

India is set to grant Saudi Aramco a 50 percent stake in a planned 1.2 million barrels per day west coast refinery, said an industry source privy to the deal, in a move that would give the kingdom a new stable outlet for its oil. A deal could be announced as early as Wednesday during Saudi oil minister Khalid Al-Falih's visit to New Delhi to attend the International Energy Forum, a source, who asked not to be identified due to the sensitivity of the talks, told Reuters. Aramco, like other major oil producers, wants to tap rising demand growth and invest in the world's ...

This article is no longer available in our repository.

There could be multiple reasons for this.

First Published: Wed, April 11 2018. 07:17 IST