Current Affairs - Business - Discussion

Saudi Aramco, a Saudi Arabian national petroleum and natural gas company, is in talks to acquire 25 percent stake in Reliance Industries' refining and petrochemicals businesses. However, both Aramco and Reliance declined to comment on the issue. Saudi Aramco also looks forward to invest in "West Coast Refinery and Petrochemical Project", India's largest oil refinery on the west coast in Maharashtra. The refinery project will be developed by three domestic oil marketing companies - Indian Oil, Bharat Petroleum and Hindustan Petroleum. The project is estimated to cost USD 44 billion.