Saudi Aramco to invest $15 billion in oil to chemicals business: Mukesh Ambani

[kaykay]

https://zeenews.india.com/companies...chemicals-business-mukesh-ambani-2226622.html

New Delhi: Reliance Industries Ltd Chairman Mukesh Ambani on Monday said Saudi Aramco will invest 75 billion dollars in the conglomerate and have 20 per cent stake in its oil to chemicals (O2C) business.

“Saudi Aramco and Reliance have agreed to form a long-term partnership in our oil to chemicals division. Saudi Aramco will invest for a 20 percent stake in Reliance`s O2C division at an enterprise value of 75 billion dollars," Ambani.

Addressing the 42nd annual general meeting (AGM), Ambani said, “it is the biggest foreign investment for Reliance and one of the largest for India. The Partnership with Saudi Aramco will cover RIL's Refining and Petrochemicals assets, including 51 percent of the Petroleum Retail JV”.
Earlier this month, BP and Reliance had announced the formation of a new joint venture that will include a retail service station network and aviation fuels business across India.

 

[kaykay]

https://www.bloomberg.com/news/arti...-20-of-refining-to-saudis-at-75-billion-value

 

[Fireurimagination]

So, only the oil to chemical business of Reliance is valued at 375 billion dollars

 

[Sam.]

https://twitter.com/x/status/1160806980941963264

Saudis to Buy Reliance Oil Refining Stake for $15 Billion

Saudi Aramco will buy a 20% stake in the oil-to-chemicals business of India’s Reliance Industries Ltd., including the 1.24 million barrels-a-day Jamnagar refining complex on the country’s west coast, Reliance Chairman Mukesh Ambani said at the company’s annual general meeting in Mumbai. Reliance values its oil-to-chemicals division at $75 billion including debt, implying a $15 billion valuation for the stake.

The move is the latest in a spree of Aramco refinery investments as the company plans to double its processing network to handle as much as 10 million barrels a day by 2030, locking in friendly buyers for the kingdom’s crude. As part of the deal, Reliance will agree to a long-term purchase of 500,000 barrels of crude a day from Aramco, Ambani said.

https://www.bloomberg.com/news/arti...-20-of-refining-to-saudis-at-75-billion-value

Thank you KSA!!

 

[Sam.]

@OsmanAli98 @Neptune @Indus Pakistan

 

[Zulfiqar]

Before the circle jerk increases exponentially the Indians should learn the difference between enterprise value and equity market value.

I don't think the 20 percent stake is worth 75 billion $. Nevertheless still a good deal for reliance.

 

[IbnAbdullah]

Salaam

Aww is this suppose to 'burn' us? The Saudis helped us when we needed to financially. Where they invest is not really a thing that should bother us.

Some people just view this as a strange weird love triangle of a relationship. It's international affairs not soap opera affairs.


...

 

[maximuswarrior]

Nothing unexpected. Money always triumphs over everything including religion. I didn't expect anything less from KSA, UAE, Egypt or Timbuktu for that matter. It is all to be expected.

Pakistanis are under no illusion. We will take on India through our own strength. We don't rely on world powers. We won't be lectured by anyone once we teach India a lesson. The hypocrites that like to address themselves as the "world" can screw themselves. We are conveying the message to the world and fulfilling our obligation. Nothing more nothing less.

Just look at Modi who is exporting his God all over the world for mass consumption. There is no loyalty to God, cow or religion. Money is the true religion all over the world.

 

[Sam.]

Salaam

Aww is this suppose to 'burn' us? The Saudis helped us when we needed to financially. Where they invest is not really a thing that should bother us.

Some people just view this as a strange weird love triangle of a relationship. It's international affairs not soap opera affairs.


...

It just states that investment is big and will be good for Indian economy and also if KSA has 20% shares in Reliance then bye bye Iran oil from Reliance Industry.

 

[maximuswarrior]

It just states that investment is big and will be good for Indian economy and also if KSA has 20% shares in Reliance then bye bye Iran oil from Reliance Industry.

As if saying bye bye to Iran will help Indian cause. Wasn't Iran supposed to be an Aryan brother of Hindustan?

 

[Lincoln]

Am I surprised? No.

 

[Sam.]

As if saying bye bye to Iran will help Indian cause. Wasn't Iran supposed to be an Aryan brother of Hindustan?

Oh we have other refineries such as TATA who has historical linkage to Iran they will be dealing to Iran but KSA pushing hard to India to cut oil dependency on Iran.

Anyway it is a historical stance from KSA to put that much money in India also now they are shareholder in Reliance Industry meaning they have stake in Indian security. They also announced to invest in Gwadar refinery with 10 Billion $.

Before they had invested in largest USA refinery in Texas and now India. KSA means business in India it indicates.

 

[maximuswarrior]

Oh we have other refineries such as TATA who has historical linkage to Iran they will be dealing to Iran but KSA pushing hard to India to cut oil dependency on Iran.

Anyway it is a historical stance from KSA to put that much money in India also now they are shareholder in Reliance Industry meaning they have stake in Indian security. They also announced to invest in Gwadar refinery with 10 Billion $.

Before they had invested in largest USA refinery in Texas and now India. KSA means business in India it indicates.

To us it has zero meaning.

 

[Sinnerman108]

It is 75 Million and not Billion !

Again, the idiot WAJ making a fool of himself.

 

[Sam.]

@MastanKhan @Taimoor Khan @Vapnope @Irfan Baloch @Humble Analyst

It is 75 Million and not Billion !

Again, the idiot WAJ making a fool of himself.

Saudi Aramco to invest in Reliance’s oil business at a valuation of $75 billion

India’s richest man, Mukesh Ambani, announced a monster of a business deal today (Aug. 12).

Saudi Arabia’s state energy group, Saudi Aramco, is set to acquire a 20% stake in his Reliance Industries’ (RIL) oil-to-chemical business for an enterprise value of $75 billion, Ambani said.

“This is the biggest foreign investment in the history of Reliance and one of the largest investments for India,” said the RIL Chairman and Managing Director at the company’s 42nd annual general meeting. “Saudi Aramco will supply 500,000 barrels of crude oil every day to Reliance Jamnagar refinery, after taking a stake.”

RIL’s Jamnagar refining complex in Gujarat has a capacity to process 1.4 million barrels per day (BPD) and the company plans to expand its capacity to two million BPD by 2030, Ambani announced.

https://qz.com/india/1685878/mukesh-ambani-says-saudi-aramco-to-invest-75-billion-in-reliance/