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India prepared to give Saudi Aramco 50 percent stake in planned mega refinery - source

Reuters  |  NEW DELHI 

By Nidhi Verma, Promit Mukherjee and Florence TanNEW DELHI (Reuters) - 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 ...

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First Published: Wed, April 11 2018. 09:33 IST