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Mukesh Reliance gets 75 Bl dollar Saudi Aramco deal

Mukesh Reliance gets 75 Bl dollar Saudi Aramco deal

Mukesh Reliance gets 75 Bl dollar Saudi Aramco deal
August 12
08:26 2019

Mukesh Ambani led Reliance Industries Ltd is set to sell a 20 per cent stake in its oil and chemicals business to Saudi Aramco

Reliance Chairman Mukesh Ambani said on Monday

at the company’s annual general meeting in India’s financial capital Mumbai that the deal valued at $75 billion including debt.

Saudi Aramco will also supply 500,000 barrels a day of crude oil on a long-term basis to RIL’s Jamnagar refinery, The partnership will cover all of Reliance’s refining and petrochemical assets, including its 51 per cent stake in the petroleum retail joint venture, he said.

Last week, Reliance announced that it was forming a fuel retailing joint venture with global oil major BP in which Reliance would own a 51 per cent

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