With Saudi Aramco planning to pick 20 per cent stake in the oil-to-chemical business of Reliance Industries (RIL), India’s downstream oil and gas sector is fast turning out to be a hotspot for global corporate entities. Saudi Aramco’s announcement comes almost a week after RIL and BP Plc decided to extend their oil and gas sector tie-up to the retail business.
RIL & BP are planning to form a new joint venture company that will include a retail service station network and aviation fuel business across India.
