Reelsens Industries Limited (RIL), owned by Muksh Ambani, is up more than 2%. ₹2,197 reported on Monday after a share in BSE in deals Bloomberg He said Saudi Arabia is in advanced talks to negotiate a shareholding agreement for a safe oil refining and chemical trade.
The Middle East energy company is buying an estimated 20% of Aramco’s shares to a $ 25 billion stake in the stock market. The report can also be reached in the coming weeks. Details of possible transactions are still being negotiated, and talks could drag on or separate over time, sources said. Bloomberg.
Speaking to shareholders at the 44th Annual General Assembly (ACM) in June, Real said he hopes to form a partnership with Saudi Aramo by the end of 2021.
Oil-from-retail-to-telecom company In 2019, it announced its intention to sell 20% of the company’s core chemicals. The deal is due to end in March 2020 but has been delayed and talks resumed this year.
“As part of this vision to achieve accelerated growth, we look forward to accepting Saudi weed as a strategic partner in our O2C work,” said RES chairman and managing director Mukesh Ambani. Despite the many challenges posed by Covid-19, he said, “We have made great strides in our discussions over the past year.”
In order to facilitate the journey of strategic partners such as Aramco, RIL has shifted its focus on oil-chemicals to a separate entity. O2C’s operations include refining, petrochemical, petroleum, retail and aviation fuel (mostly interest only) and wholesale marketing, including general oil-chemical operations with assets and liabilities.
Never miss a story! Stay connected to Mint and stay tuned. Download our app now !!