Saudi Aramco is in talks to invest in two new refinery projects in India as it seeks to secure long-term crude sales in a key growth market. The company is negotiating stakes in BPCL’s $11 billion refining and petrochemical complex in southern India and ONGC’s proposed refinery in Gujarat. Aramco has offered to supply crude volumes three times its stake in each project. While India remains a major crude importer, its refiners are focused on securing diverse and cost-effective supplies, which could challenge Aramco’s proposal.
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Source: Oilprice.com
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