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Saudi Aramco, Reliance deal delayed not canceled, CEO says

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Tue, 2021-11-30 14:47

DHAHRAN: Rejecting claims about the cancellation of a deal between Saudi Aramco and India’s Reliance, the chief of the oil company told Arab News it would push ahead with the plan following the restructuring of the Indian firm.

Amin Nasser said Reliance is “restructuring their facilities,” and they will “continue to discuss further with them in the future after they finish the restructuring.”

The two companies had signed a non-binding agreement in 2019 for Aramco to acquire a 20 percent stake in Reliance’s oil-to-chemicals unit.

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