Saudi Aramco seeks exclusive talks to buy stake in Indian refinery

Saudi Arabia-based Aramco is seeking a dialogue with India to buy a stake in the world’s biggest refinery-cum-petrochemical complex that the country plans to build in Maharashtra at a cost of $40 billion. Saudi Aramco had previously been interested in new greenfield refineries set up in India but this did not materialise in investments. The planned Ratnagiri refinery will be designed to produce grade Euro-VI and above transportation fuels, and will have inbuilt flexibility for processing a wide spectrum of light and heavy crude oil grades, utilising various blending techniques.