GET Stock QuotesNews18 APP
News18 English
Powered by cricketnext logo
»
1-min read

Saudi Aramco to Buy 50% Stake in $44 Billion Oil Refinery in Maharashtra

Saudi Oil Minister, Khalid A. Al-Falih, said India is a priority destination for Saudi investment and Aramco will continue to scout for opportunities beyond the west coast refinery.

PTI

Updated:April 11, 2018, 12:18 PM IST
facebookTwittergoogleskypewhatsapp
Saudi Aramco to Buy 50% Stake in $44 Billion Oil Refinery in Maharashtra
Logo of Saudi Aramco. (Photo: REUTERS)
New Delhi: Saudi Aramco, the world's largest oil producer, will buy 50 per cent stake in the mega USD 44-billion oil refinery in Maharashtra.

A memorandum of understanding (MoU) to this effect was signed on sidelines of the International Energy Forum (IEF) conference here.

Saudi Oil Minister, Khalid A. Al-Falih, said India is a priority destination for Saudi investment and Aramco will continue to scout for opportunities beyond the west coast refinery.

Saudi Arabia will supply half of the 60 million tonne capacity, he said.

State-owned IOC, BPCL and HPCL will hold the remaining 50 per cent stake in the project.

Also Watch

| Edited by: Ahona Sengupta
Read full article
Loading...
Most Active
Company Price Change %Gain
Bajaj Finance 2,721.35 +201.15 +7.98
Bajaj Auto 2,839.60 -275.40 -8.84
Reliance 1,128.65 +23.80 +2.15
Infosys 1,348.10 +31.40 +2.38
Ashok Leyland 107.45 +1.75 +1.66
Company Price Change %Gain
Bajaj Finance 2,721.50 +203.90 +8.10
ICICI Bank 266.00 +4.80 +1.84
Infosys 1,348.35 +31.80 +2.42
Bajaj Auto 2,841.10 -271.70 -8.73
Power Grid Corp 176.20 -1.05 -0.59
Top Gainers
Company Price Change %Gain
Bajaj Finance 2,721.35 +201.15 +7.98
Bajaj Finserv 6,663.95 +367.05 +5.83
Sun Pharma 560.10 +15.15 +2.78
Tech Mahindra 659.45 +17.25 +2.69
Cipla 625.80 +15.70 +2.57
Company Price Change %Gain
Sun Pharma 559.90 +14.80 +2.72
Infosys 1,348.35 +31.80 +2.42
Reliance 1,128.55 +24.65 +2.23
ICICI Bank 266.00 +4.80 +1.84
Axis Bank 534.45 +7.15 +1.36
Top Losers
Company Price Change %Gain
Bajaj Auto 2,839.60 -275.40 -8.84
HPCL 275.40 -9.00 -3.16
IOC 161.05 -4.75 -2.86
Vedanta 202.40 -5.80 -2.79
BPCL 388.85 -9.45 -2.37
Company Price Change %Gain
Bajaj Auto 2,841.10 -271.70 -8.73
Vedanta 202.60 -5.70 -2.74
Hero Motocorp 3,373.15 -85.75 -2.48
ONGC 157.85 -3.55 -2.20
Kotak Mahindra 1,333.45 -16.80 -1.24
Loading...
Loading...