Saudi Arabian Energy Minister Khalid Al-Falih revealed the plan on Wednesday in Riyadh, adding Saudi Aramco wanted flexibility in funding the Sabic deal, which could cost about $70 billion.
DUBAI: State oil giant Saudi Aramco, the world’s biggest oil producer, is in talks to buy a minority stake in the refining and petrochemicals businesses of India’s Reliance Industries Ltd, sources familiar with the matter said.
The Times of India reported earlier that Aramco was in talks to buy a stake of up to 25%, which could be worth around US$10-15bil, valuing the Indian company’s refining and petrochemicals businesses at some US$55-60bil.
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