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NEW DELHI (Reuters) – Talks between Saudi oil giant Saudi Aramco and Reliance Industries to acquire a minority stake in refining badets in India have not stopped, said Saudi Energy Minister , Khalid al-Faleh.
"Both companies, Aramco and Reliance, hold a lot of good offices and good intentions," Faleh told Reuters during an interview Thursday.
Reliance Industries, controlled by Mukesh Ambani, the richest man in Asia, runs the world's largest refining facility with a capacity of 1.4 million barrels a day at Jamnagar, in west of India.
The state-owned company Aramco, the world's largest oil producer, plans to boost investment in refining and petrochemicals to reach new crude oil markets, while demand for oil has recently slowed.
Reuters reported Tuesday that discussions between the two companies were halted, with Reliance seeking a higher rating.
Faleh, who met Indian Oil Minister Dharmendra Pradhan on Thursday in New Delhi, said he was "optimistic" about the two companies' success in reaching an agreement.
"We will announce the terms of the agreement as soon as they are finalized," he added.
Last year, Aramco and the National Oil Company of Abu Dhabi (ADNOC) merged with Indian refineries managed by the state in a 1.2 refinery construction project. million barrels a day.
However, the plan is lagging as farmers refuse to give up their land, forcing the Maharashtra government to find a new location.
"We called on Saudi Arabia to help build strategic oil reserves," Pradhan said in a tweet on Twitter after meeting Faleh.
Bradhan urged Saudi Arabia to continue to strike a balance in the oil markets and expressed concern over the unrest in the Strait of Hormuz that could affect oil tanker and oil tanker movements. oil.
Saudi Arabia is the second largest oil supplier of India after Iraq.
Al-Falih said the kingdom would provide more oil to India if needed. New Delhi has suspended its purchases of Iranian oil since May under pressure from US sanctions targeting Tehran's nuclear program.
(Reuters)
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