Aramco controls the Indian oil market through Reliance Industries

The acquisition by Saudi Aramco of part of the Indian company Reliance Industries Limited will allow the Saudi company to take control of the fastest growing Indian oil market in the world, where suppliers, particularly the United States and the United States. Russia, make gains, according to Bloomberg News. Success According to Bloomberg, Aramco 's project to buy 20% of Reliance Industries' petroleum and chemical business in India is accompanied by a guaranteed purchase of half a million barrels of crude oil per day in the kingdom, about 25 million tons per year. .

The agreement gives Aramco access to a market where it faces competition from other producers, said Susberg Gupta, refinery and chemical director at Wood Mackenzie in Singapore.