Saudi Arabia to regain India’s top oil supplier spot after Reliance deal
NEW DELHI: Saudi Arabian Oil Co (Aramco) buying a 20 per cent stake in Reliance IndustriesNSE -0.56 %’ oil-to-chemical business will help it regain the position of being the biggest supplier of oil to the world’s fastest-growing oil market.
Saudi Arabia, which traditionally has been India’s top oil source, lost the slot to Iraq during the last two financial years.
This will change with Aramco buying 20 per cent stake in the RIL’s oil-to-chemical (O2C) business, which has an enterprise valuation of USD 75 billion as it will be accomp
