Reliance and Saudi Aramco to reevaluate proposed O2C investment
Reliance Industries Limited has announced that they will be re-evaluating Saudi Aramco’s proposal to acquire a stake in the Indian conglomerate.
In a press release, the oil majors reiterated their desire to remain preferred partners, with Reliance set to continue as the Saudi company’s collaborator in the subcontinent.
“Due to [the] evolving nature of Reliance’s business portfolio, Reliance and Saudi Aramco have mutually determined that it would be beneficial for both parties to re-evaluate the proposed investment in O2C business in light of the changed context,” read the press release.
