Saudi Aramco-Reliance deal talks regain momentum, send RIL stock rising
NEW DELHI: Shares of Reliance Industries were trading nearly 1 per cent higher in Monday’s trade amid an ET NOW report suggesting that deal talks with Saudi Aramco for selling of stake in oil-to-chemicals (O2C) business have gained momentum after a brief pause due to Covid-19.
Aramco was earlier looking to buy a 20 per cent stake in RIL’s oil to chemicals (O2C) business for $20 billion, but the talks did not progress on expected lines due to disruption in the oil market amid the pandemic.
