Press "Enter" to skip to content

Saudi Aramco Says in Early Talks Over Reliance Stake

The deal, which is in a very early stage, would allow the company to conduct required due diligence going forward.

The logo of Saudi Aramco is seen at Aramco headquarters in Dhahran, Saudi Arabia. (Reuters/Ahmed Jadallah/Files)


Dubai: Saudi Aramco has signed a letter of intent with Reliance to potentially buy a stake in its refining and petrochemicals business but talks are at “a very early stage”, a senior Aramco executive said on Monday.

“This is very, very early stages of the deal that would allow us to conduct required due diligence going forward,” Khalid al-Dabbagh, senior vice president of finance, told an analyst call after the company reported first half results.

Disclaimer: is part of Network18 Media & Investment Limited which is owned by Reliance Industries Limited.

Get the best of News18 delivered to your inbox – subscribe to News18 Daybreak. Follow on Twitter, Instagram, Facebook, TikTok and on YouTube, and stay in the know with what’s happening in the world around you – in real time.

Subscribe to Moneycontrol Pro and gain access to curated markets data, trading recommendations, equity analysis, investment ideas, insights from market gurus and much more. Get Moneycontrol PRO for 1 year at price of 3 months. Use code FREEDOM.

Source: News18