{"id":431121,"date":"2021-08-17T11:28:08","date_gmt":"2021-08-17T05:58:08","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=431121"},"modified":"2021-08-17T12:55:30","modified_gmt":"2021-08-17T07:25:30","slug":"aramco-in-advanced-talks-on-up-to-25-billion-reliance-deal-report","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/aramco-in-advanced-talks-on-up-to-25-billion-reliance-deal-report\/","title":{"rendered":"Aramco in advanced talks on up to $25 billion Reliance deal: Report"},"content":{"rendered":"<p>BENGALURU: Saudi Aramco is in advanced talks to acquire a roughly 20% stake in Reliance Industries Ltd&#8217;s oil refining and chemicals business for about $20 billion to $25 billion in Aramco&#8217;s shares, Bloomberg News reported on Monday. <\/p>\n<p>An agreement could be reached as soon as the coming weeks, according to the report, which cited people with knowledge of the matter. <\/p>\n<p>Reliance announced a sale of a 20% stake in its oil-to-chemicals business to Aramco for $15 billion in 2019, but the deal stalled after oil prices and demand crashed last year due to the pandemic. <\/p>\n<p>In late June, Reliance&#8217;s billionaire chairman Mukesh Ambani said it hopes to formalise its partnership with Aramco this year and its chairman Yasir Al-Rumayyan will join the Indian conglomerate&#8217;s board as an independent director.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>BENGALURU: Saudi Aramco is in advanced talks to acquire a roughly 20% stake in Reliance Industries Ltd&#8217;s oil refining and chemicals business for about $20 billion to $25 billion in Aramco&#8217;s shares, Bloomberg News reported on Monday. An agreement could be reached as soon as the coming weeks, according to the report, which cited people with knowledge of the matter. Reliance announced a sale of a 20% stake in its oil-to-chemicals business to Aramco for $15 billion in 2019, but the deal stalled after oil prices and demand crashed last year due to the pandemic. In late June, Reliance&#8217;s billionaire [&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":[130,219,137],"tags":[],"class_list":["post-431121","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-oil-gas-the-times-of-india","category-the-times-of-india"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/431121","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=431121"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/431121\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=431121"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=431121"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=431121"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}