Saudi Aramco is doubling down on downstream energy again, taking a huge bite out of India’s Reliance Industries Limited refining business in a potential Xx deal that could combine the world’s largest oil producer with the world’s largest oil refinery.
Reliance said Monday that it has signed a letter of intent to sell a 20 percent stake of its oil-to-chemicals segment to Saudi Aramco, including the 1.24 million refinery in Jamnagar, India.
Source: FuelFix
