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FINANCIAL NEWS
Saudi Aramco aims talks over India oil refinery share
15 Jun 2017
(MENAFN) Saudi Aramco aims to enter into talks with India in order to buy a share in the planned 1.2mn barrels per day refinery on the South Asian nation’s west coast.
Furthermore, the talks come as Saudi Arabia plans to secure customers for its oil amidst a global supply glut.
Meanwhile, with the 1.2mn bpd refinery, India wants to have a greater say in the global fuel trade, as proclaimed Oil Minister.
Additionally, the nation’s top refiner Indian Oil Corp will hold a 50 percent share in the project, whereas Hindustan Petroleum Corp. and Bharat Petroleum will own 25 percent each.
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MENAFN1506201700450000ID1095560851
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