What is Reliance Saudi Aramco deal?

Aramco, the world’s top oil exporter, signed a non-binding agreement to buy a 20 per cent stake in Reliance’s O2C business for $15 billion in 2019. CorporatesReuters Updated: November 25, 2021 6:26 pm IST. Reliance will now focus on signing multiple deals with companies to produce specialty chemicals.

Who owns Saudi Arabian Oil Company?

Saudi government
The company was established in 1933 and began drilling in 1938. It is primarily state-owned but raised $29.4 billion in a 2019 IPO and a greenshoe option in 2020. Moody’s rated the company an A1 because of its credit links to the Saudi government.

What Aramco means?

Arabian American Oil Company
1944: The California Arabian Standard Oil Company was renamed the Arabian American Oil Company, or as we now know it, by its acronym Aramco. It was run by a consortium of U.S. oil companies — including the predecessors of Chevron, Texaco and Exxon Mobil.

Is Reliance upstream or downstream company?

Reliance Petroleum is an Indian petroleum company that specializes in oil and energy, owned by Mukesh Ambani of Reliance Industries Limited (RIL), one of India’s largest private sector companies. It is based in Ahmedabad, Gujarat, India and has interests in the downstream oil business.

Is Reliance a listed company?

The company is ranked 155th on the Fortune Global 500 list of the world’s biggest corporations as of 2021….Reliance Industries.

Does reliance extract crude oil?

Reliance also has another refinery – the sixth largest in the world – in the Special Economic Zone at Jamnagar. This refinery has a capacity for processing 580,000 BPD of crude.

Does reliance sell oil?