Oil Minister of Saudi has tweeted briefly of his formal discussions with Reliance.
Oil Minister visits Udaipur to take part in the wedding of Isha Ambani with Anand Piramal.
He said that Saudi Arabia, the world’s largest exporter of oil and Reliance Industries Ltd have discussed joint investment plans.
The tweet had a picture of Mukesh Ambani and Khalid, dressed in a business suit.
Saudi is ready to get a stable foothold in India for the crude oil it produces.
These two will supply half of the crude oil required for processing at the refinery.
They are looking to lock in customers in the world’s third-largest oil consumer.
Kuwait too is looking to invest in getting an assured offtake of their crude oil.
India has a major refining capacity of 247.6 million tonnes.
capacity can exceed the demand of 206.2 million tonnes.