India should be wary of getting too cosy with Saudi Aramco

The country is already too reliant on imported crude. Cozying up to the Middle Eastern giant will only make matters worse

It’s funny how friendly someone gets when they’re trying to sell you something.

Saudi Arabian Oil Co. is doing its best to make nice with one of its biggest customers. With the ink barely dry on the takeover of 70 percent of the country’s chemical giant Saudi Basic Industries Corp. and the issuance of its first-ever corporate bond, Aramco is looking to buy a stake in the world’s biggest oil refinery.

Indian billionaire Mukesh Ambani’s Reliance Industries Ltd. is seeking to sell as much as a quarter of its refining business for at least $10 billion and is entertaining offers