Sorry, Saudi Aramco, Reliance Industries just isn’t that into you
Could one of the energy industry’s longest-running on-again, off-again romances be catching fire again? Saudi Arabian Crown Prince Mohammed bin Salman seems to think so.
“There are discussions happening right now about a 1 per cent acquisition by one of the leading energy companies in the world” in state-owned Saudi Arabian Oil Co, he said in a local television interview on Tuesday.
Prince Mohammed didn’t disclose which company might make the investment, but you don’t have to be a Jane Austen protagonist to work out the most likely partner. Reliance Industries Ltd, owner of the world’s biggest oil refinery, has been dancing the quadrille with Saudi Aramco for nearly two years.
