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
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