Major oil producer Saudi Aramco was still keen to invest in a joint venture with Indian Oil, Hindustan Petroleum and Bharat Petroleum, but Saudi Arabia’s state-owned oil company is still in the early stages of that investment, said N Vijaygopal, director of finance, BPCL, in an interview with CNBC-TV18.
About Saudi Aramco’s investment in Reliance Industries’ chemical and refining business, Vijaygopal said, “We don’t comment on Reliance’s decision but of course it is a company-specific decision taken by RIL based on their own outlook.”
“They are predominantly a company which exports petroleum products, we are a domestic player. So RIL is not a competition for BPCL,” he said, adding that “Our outlook is that our country will continue to grow in consumption of petroleum products in foreseeable future. Read More
Latest posts by CNBC (see all)
- Govt set to finalise conditions for 100% commercial mining of coal - November 11, 2019
- Rockefeller Foundation, Tata Power partner for 10,000 microgrids in rural India - November 11, 2019
- Don’t think 4 months is sufficient for completing the divestment: N Vijayagopal, BPCL - November 9, 2019