{"id":287589,"date":"2019-08-17T07:30:52","date_gmt":"2019-08-17T07:30:52","guid":{"rendered":"http:\/\/infralive.com\/web\/?p=287589"},"modified":"2019-08-17T07:56:33","modified_gmt":"2019-08-17T07:56:33","slug":"saudi-arabia-back-as-indias-top-oil-supplier-after-reliance-deal","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/saudi-arabia-back-as-indias-top-oil-supplier-after-reliance-deal\/","title":{"rendered":"Saudi Arabia back as India\u2019s top oil supplier after Reliance deal"},"content":{"rendered":"<p>Saudi Arabian Oil Co (Aramco) buying a 20 per cent stake in Reliance Industries\u2019 oil-to-chemical business will help it regain the position of being the biggest supplier of oil to the world\u2019s fastest-growing oil market.<\/p>\n<p>Saudi Arabia, which traditionally has been India\u2019s top oil source, lost the slot to Iraq during the last two financial years.<\/p>\n<p>This will change with Aramco buying 20 per cent stake in RIL\u2019s oil-to-chemical (O2C) business, which has an enterprise valuation of $75 billion as it will be accompanied with a deal to supply 500,000 barrels per day or 25 million tonnes a year of crude oil.<\/p>\n<p>\u201cCrude supplies of 500,000 b\/d represents about 40 per cent of Reliance\u2019s crude intake, significantly higher than the stake taken, although Saudi Aramco historically supplied 20 per cent of Reliance\u2019s crude oil requirements,\u201d said Alan Gelder, vice-president refining and chemicals at Wood Mackenzie.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Saudi Arabian Oil Co (Aramco) buying a 20 per cent stake in Reliance Industries\u2019 oil-to-chemical business will help it regain the position of being the biggest supplier of oil to the world\u2019s fastest-growing oil market. Saudi Arabia, which traditionally has been India\u2019s 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 RIL\u2019s oil-to-chemical (O2C) business, which has an enterprise valuation of $75 billion as it will be accompanied with a deal to supply 500,000 barrels per day or 25 million tonnes a year of [&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":[130],"tags":[],"class_list":["post-287589","post","type-post","status-publish","format-standard","hentry","category-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/287589","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=287589"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/287589\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=287589"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=287589"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=287589"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}