RIL-Aramco deal fits well for both their future strategies

Saudi Aramco has been vocal about partnering with RIL

Reliance Industries (RIL), which owns the world's largest refinery, appears to be making a shift towards consumer businesses, while Saudi Arabia has been taking conscious steps towards de-linking its economy from oil. 

The two strategies--one corporate and the other national--could find a point of convergence to make way for an RIL-Saudi Aramco deal, news reports suggest. Aramco is a Saudi-owned petroleum company, which Bloomberg recently reported to be the most profitable in the world.

According to a Times of India report, serious discussions are on between the two companies for a 25 per cent stake in RIL’s refining and petrochemicals business.