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India ready 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-barrel-per-day (bpd) refinery on its west coast, said an industry source with knowledge of the deal, a move that would give the kingdom a new outlet for its oil. A preliminary agreement will be announced on Wednesday during a visit by Saudi oil minister Khalid al-Falih and Aramco CEO Amin Nasser's to New Delhi, two separate sources told Reuters on condition of anonymity. Falih is attending the International Energy Forum in Delhi. A memorandum of ...

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First Published: Wed, April 11 2018. 10:53 IST