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Saudi Aramco keeps intention to find investment opportunities in India

Oil hits $105 a barrel as Russia invades Ukraine

According to Bloomberg, Saudi Aramco continues to look for investment opportunities in India, signaling that the country offers excellent long-term growth prospects.

The company claimed that it will continue to assess new or current business prospects with potential partners, citing its long-standing partnership with Reliance Industries.

Reliance Industries, an Indian business, recently claimed that it has achieved an agreement with Saudi Aramco to re-evaluate Aramco’s proposed investment in a stake in its oil refining and chemicals unit, according to data available on Argaam.

In August 2019, Reliance Industries and Saudi Aramco signed a non-binding letter of intent for Aramco to buy a 20% share in Reliance Industries’ refining and chemicals sector.

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