{"id":287094,"date":"2019-08-13T05:48:00","date_gmt":"2019-08-13T05:48:00","guid":{"rendered":"http:\/\/infralive.com\/web\/?p=287094"},"modified":"2019-08-13T05:48:00","modified_gmt":"2019-08-13T05:48:00","slug":"aramco-deal-more-to-secure-crude-supply-than-deleveraging-ril-officials","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/aramco-deal-more-to-secure-crude-supply-than-deleveraging-ril-officials\/","title":{"rendered":"Aramco deal more to secure crude supply than deleveraging: RIL officials"},"content":{"rendered":"<p>The 20-per cent stake sale in Reliance Industries&#8217; oil-to-chemicals business to Saudi Aramco is a strategic deal driven partly to secure long-term crude supply, senior company officials explained Monday. <\/p>\n<p>The deal, which is expected to be completed during this financial year, is not driven by the company&#8217;s move to deleverage debt of over Rs 1.54 trillion, they clarified even as chairman Mukesh Ambani told the shareholders that RIL will be debt-free over the next 18 months. <\/p>\n<p>Earlier in the day, Ambani told the AGM that the Saudi oil giant Aramco will pick up 20 per cent in the oil-to-chemicals (O2C) business for over $15 billion, valuing RIL at $75 billion, making this one of the largest foreign investments into the country to date.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The 20-per cent stake sale in Reliance Industries&#8217; oil-to-chemicals business to Saudi Aramco is a strategic deal driven partly to secure long-term crude supply, senior company officials explained Monday. The deal, which is expected to be completed during this financial year, is not driven by the company&#8217;s move to deleverage debt of over Rs 1.54 trillion, they clarified even as chairman Mukesh Ambani told the shareholders that RIL will be debt-free over the next 18 months. Earlier in the day, Ambani told the AGM that the Saudi oil giant Aramco will pick up 20 per cent in the oil-to-chemicals (O2C) [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[135,130,169],"tags":[],"class_list":["post-287094","post","type-post","status-publish","format-standard","hentry","category-business-standard-newspapers","category-newspapers","category-oil-gas-business-standard-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/287094","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=287094"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/287094\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=287094"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=287094"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=287094"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}