Saudi Aramco Plans ‘Mega Investment’ In India, Eyes Refinery Business

Saudi Aramco Plans ‘Mega Investment’ In India, Eyes Refinery Business

Saudi Arabia’s state-owned oil giant has “mega investment” plans for the world’s fastest growing oil market, according to Saudi Arabian Oil Co.’s chief executive officer.

The company, popularly known as Saudi Aramco, plans to create a fully integrated business in India and is interested in partnering with Indian companies, including in a planned large refinery project on India’s west coast, CEO Amin Nasser said in New Delhi on Monday.

“India has all the signs of a prosperous economy that is on the move. This is a market of investment priority and not a choice anymore,” Nasser said at the Indian Energy Forum by CERAWeek. “We have a number of partners with whom we are going to have serious discussions.” Read More…

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