MUMBAI -- Oil and gas major Saudi Aramco is to acquire a 20% stake in the oil and chemicals business of Mukesh Ambani-led Reliance Industries, in a deal that the Indian petrochemical and retail billionaire described as one of the largest inbound foreign direct investments to date.
Business deals
Saudi Aramco to acquire 20% stake in India's Reliance division
Middle East oil and gas major to pay $15bn to expand footprint in energy-thirsty Asia
An oil tank at Saudi Aramco's Ras Tanura oil refinery and terminal in Saudi Arabia. The company supplies crude oil to Reliance Industries' refinery in India. © Reuters
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