 "Reliance Industries")
The induction of Saudi Aramco Chairman Yasir Al-Rumayyan into the Reliance Industries (RIL) board is the beginning of increased synergies between the two energy majors.
Saudi Aramco will also get a board seat (or two) in RIL’s newly carved out oil to chemicals (O2C) subsidiary. This proposed deal is largely for a stake in RIL’s prolific Jamnagar refinery, which is among the most advanced in the world. Aramco will buy a 20 per cent stake in RIL’s O2C subsidiary. The enterprise value of this division was estimated at $75 billion. This is in addition to Saudi Arabia’s Public Investment
Saudi Aramco will also get a board seat (or two) in RIL’s newly carved out oil to chemicals (O2C) subsidiary. This proposed deal is largely for a stake in RIL’s prolific Jamnagar refinery, which is among the most advanced in the world. Aramco will buy a 20 per cent stake in RIL’s O2C subsidiary. The enterprise value of this division was estimated at $75 billion. This is in addition to Saudi Arabia’s Public Investment
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