Credit Suisse says Aramco may revive RIL deal if oil prices continue to rise
MUMBAI: Foreign brokerage firm Credit Suisse believes that global oil NSE 2.05 % producer and refining giant Saudi Arabian Co, better known as Saudi Aramco, may revive its interest in buying the 20% stake in Reliance Industries Ltd’s energy business if global crude oil prices continue their upward trend.
“The deal is not yet closed and with Saudi Aramco not bidding for BPCL (Bharat Petroleum NSE -0.51 % Corp), it is possible that with recovery in oil prices above $50-55/bbl, the deal could be revived,” the brokerage house said in a note.
