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Aramco in advance talks over 20% in Reliance Industries

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Aramco in advance talks over 20% in Reliance Industries

By Energy Connects

Aug 16, 2021

image is Reliance Industries

The logo of Reliance Industries in India.

Saudi Aramco is in advanced talks to acquire a roughly 20 percent stake in Reliance Industries Ltd's oil refining and chemicals business, Bloomberg News reported on Monday citing sources related to the matter.

The agreement, which could be reached soon, is worth about US $20 billion to US $25 billion in Aramco's shares.

Earlier in August, Aramco’s Chief Executive Officer Amin Nasser said the company was doing due diligence on the deal.

Aramco Saudi Arabia India Asia Investment

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