• About us
  • Columnists
  • Careers
  • Brand Partnerships
  • rightlog is now TFIPOST
TFI Official Merchandise
हिन्दी
Sunday, January 24, 2021
TFIPOST
  • Politics
    • All
    • Analysis
    • Opinions
    • Trending
    SFJ, Khalistani, farmers protests

    Khalistani terrorists in the garb of farmers have planned to attack Delhi’s power grid on 26th of Jan

    Nusrat Jahan, TMC, Prashant Kishor

    Prashant Kishor meticulously created the myth of Hindu Bride Nusrat Jahan, she destroyed it with just one tweet

    Google, Neeva, Search engine

    Neeva Search Engine: Ex-Google executives tie-up with IITans to create Google’s rival

    Rahul Gandhi, Congress, Tamil Nadu

    Tamil Nadu is India, India is “Tamil Nadu, but India is not Tamil Nadu”, Rahul Gandhi makes his translator go blank

    • Analysis
    • Opinions
    • Trending
  • Economy
    • All
    • Business
    • Economy1
    • Finance
    Minimal investments in hospitality, tourism, and Auto sector but India’s FDI touches record high in just 2 quarters

    Minimal investments in hospitality, tourism, and Auto sector but India’s FDI touches record high in just 2 quarters

    Adani, Total, Reliance

    Adani leads India’s alternate energy revolution as Total SE makes a mammoth $2 Billion investment

    Bengaluru, IT Sector, tech

    Bengaluru leaves behind London and many other European cities to become the leading tech hub

    plan

    Is It Possible to Get Affordable Term Plan Quotes?

    • Business
    • Finance
  • Defense
    • All
    • Defence
    • Strategy
    • Weaponry
    india indian army ladakh drones

    Amid standoff with China, India puts the Ladakh region under drone surveillance. More Made-In-India drones to follow

    drdo

    For 6 decades DRDO was not up to the mark. Today it is making one missile after another. What really changed

    ghatak drone

    GHATAK- How India’s stealth combat drone programme promises to make it a military superpower

    Turkey, US, Russia

    Turkey may be sanctioned by US for using F-16s as target practice for Russian S-400s

    • Defence
    • Strategy
    • Weaponry
  • Geopolitics
    • All
    • Africa
    • Americas
    • Asia Pacific
    • Europe
    • South Asia
    • West Asia
    UK, India, G7

    Ahead of Biden presidency, UK invites India to G7 summit amid talks of expansion

    India, China, Al-Qaeda

    China stops India from heading Al-Qaeda sanctions committee that would have given it immense leverage over Pakistan

    Africa, India, Chinese, vaccine

    As Africa distrusts the Chinese vaccine, India has the golden opportunity and the perfect resources to expand its soft power

    France, India, EU

    France invites India to join European naval missions in the Persian Gulf, the most important oil route in the world

    • Africa
    • Americas
    • Asia Pacific
    • Europe
    • South Asia
    • West Asia
  • Knowledge
    • All
    • Culture
    • History
    • Indology
    sister nivedita

    Sister Nivedita – The friend of all

    Tanishq

    A stupid Ad and a dumb explanation: What Tanishq lost in last 48 hours?

    Coco island, islands, Nehru

    Nehru’s massive strategic blunder – How Nehru gave Coco Islands to Burma that China later grabbed

    Turkey, Hagia Sophia

    Hagia Sophia is not the only one: Turkey has a shameful history of desecration

    • Culture
    • History
    • Indology
  • Lounge
    • All
    • Books
    • Cinema
    • Food
    • Health
    • Satire
    • Sports
    • technology
    • Travel
    whatsapp signal brian acton

    He was forced to sell WhatsApp to Facebook. Now, he has come back with Signal to dethrone WhatsApp

    fan

    Here’s Why Finding the Right Ceiling Fan is Important

    coolie no. 1

    This is not even about nepotism; Coolie No. 1 remake is plain horrible and a huge insult to Govinda

    ajinkya rahane

    Ajinkya Rahane – One of the best test captains India NEVER had

    • Books
    • Cinema
    • Food
    • Health
    • Sports
    • technology
    • Travel
    • Satire
  • Newswire
No Result
View All Result
TFIPOST
  • Politics
    • All
    • Analysis
    • Opinions
    • Trending
    SFJ, Khalistani, farmers protests

    Khalistani terrorists in the garb of farmers have planned to attack Delhi’s power grid on 26th of Jan

    Nusrat Jahan, TMC, Prashant Kishor

    Prashant Kishor meticulously created the myth of Hindu Bride Nusrat Jahan, she destroyed it with just one tweet

    Google, Neeva, Search engine

    Neeva Search Engine: Ex-Google executives tie-up with IITans to create Google’s rival

    Rahul Gandhi, Congress, Tamil Nadu

    Tamil Nadu is India, India is “Tamil Nadu, but India is not Tamil Nadu”, Rahul Gandhi makes his translator go blank

    • Analysis
    • Opinions
    • Trending
  • Economy
    • All
    • Business
    • Economy1
    • Finance
    Minimal investments in hospitality, tourism, and Auto sector but India’s FDI touches record high in just 2 quarters

    Minimal investments in hospitality, tourism, and Auto sector but India’s FDI touches record high in just 2 quarters

    Adani, Total, Reliance

    Adani leads India’s alternate energy revolution as Total SE makes a mammoth $2 Billion investment

    Bengaluru, IT Sector, tech

    Bengaluru leaves behind London and many other European cities to become the leading tech hub

    plan

    Is It Possible to Get Affordable Term Plan Quotes?

    • Business
    • Finance
  • Defense
    • All
    • Defence
    • Strategy
    • Weaponry
    india indian army ladakh drones

    Amid standoff with China, India puts the Ladakh region under drone surveillance. More Made-In-India drones to follow

    drdo

    For 6 decades DRDO was not up to the mark. Today it is making one missile after another. What really changed

    ghatak drone

    GHATAK- How India’s stealth combat drone programme promises to make it a military superpower

    Turkey, US, Russia

    Turkey may be sanctioned by US for using F-16s as target practice for Russian S-400s

    • Defence
    • Strategy
    • Weaponry
  • Geopolitics
    • All
    • Africa
    • Americas
    • Asia Pacific
    • Europe
    • South Asia
    • West Asia
    UK, India, G7

    Ahead of Biden presidency, UK invites India to G7 summit amid talks of expansion

    India, China, Al-Qaeda

    China stops India from heading Al-Qaeda sanctions committee that would have given it immense leverage over Pakistan

    Africa, India, Chinese, vaccine

    As Africa distrusts the Chinese vaccine, India has the golden opportunity and the perfect resources to expand its soft power

    France, India, EU

    France invites India to join European naval missions in the Persian Gulf, the most important oil route in the world

    • Africa
    • Americas
    • Asia Pacific
    • Europe
    • South Asia
    • West Asia
  • Knowledge
    • All
    • Culture
    • History
    • Indology
    sister nivedita

    Sister Nivedita – The friend of all

    Tanishq

    A stupid Ad and a dumb explanation: What Tanishq lost in last 48 hours?

    Coco island, islands, Nehru

    Nehru’s massive strategic blunder – How Nehru gave Coco Islands to Burma that China later grabbed

    Turkey, Hagia Sophia

    Hagia Sophia is not the only one: Turkey has a shameful history of desecration

    • Culture
    • History
    • Indology
  • Lounge
    • All
    • Books
    • Cinema
    • Food
    • Health
    • Satire
    • Sports
    • technology
    • Travel
    whatsapp signal brian acton

    He was forced to sell WhatsApp to Facebook. Now, he has come back with Signal to dethrone WhatsApp

    fan

    Here’s Why Finding the Right Ceiling Fan is Important

    coolie no. 1

    This is not even about nepotism; Coolie No. 1 remake is plain horrible and a huge insult to Govinda

    ajinkya rahane

    Ajinkya Rahane – One of the best test captains India NEVER had

    • Books
    • Cinema
    • Food
    • Health
    • Sports
    • technology
    • Travel
    • Satire
  • Newswire
No Result
View All Result
TFIPOST
No Result
View All Result
  Newswire
Aviation industry professionals to be considered for vaccinations (IANS Exclusive) 37 mins ago
Amazon penalised Rs 45,000 for cancelling student’s laptop order 40 mins ago
Will sack guilty officials in question paper leak: Yediyurappa 46 mins ago
When #BernieSanders joined Adhyayan Suman’s housewarming puja 1 hour ago
‘Pandemic an eye-opener to increase allocation for health sector’ 1 hour ago
Kangana Ranaut takes a dig at Swara Bhasker 2 hours ago
Next
Prev

Saudi Aramco to buy 20 per cent stake in Reliance Industries OTC biz in one of India’s biggest FDI deals

Amit Agrahari
by Amit Agrahari
12 August 2019
in Business
0
Saudi Aramco to buy 20 per cent stake in Reliance Industries OTC biz in one of India’s biggest FDI deals

(PC: News State)

2
SHARES
4.1k
VIEWS
Sharre via FacebookShare via Twitter

The Annual General Meeting (AGM) of Reliance Industries Limited brings good news for consumers in terms of FDI and brings horror to its competitors. In every AGM, the company comes with a new plan to corner its competitors in some industry. The 42nd AGM of the company was held today in Mumbai and this time the competitors in petroleum industry faced the wrath of the Titans. Mukesh Ambani has announced one of the biggest FDI investments in the Reliance Industries oil to chemical business and this investment is coming from Saudi Arabia’s state owned Saudi Aramco which is known as the most profitable company in the world.

Saudi Aramco, the world’s largest oil producer is all set to get a 20 per cent stake in the Reliance’s oil-to-chemicals (OTC) business. The OTC business to receive this FDI, comprises of refining and petrochemicals businesses, converts petroleum into chemicals and is valued at around 75 billion dollars. The national oil petroleum producer of Saudi Arabia, Saudi Aramco will supply 5, 00,000 barrels per day of crude oil to RIL’s Jamnagar refinery, the largest refining facility in the world. The refining complex in Jamnagar has capacity to process 1.4 million barrels per day (bpd) and plans to process 2 million bpd by 2030.

The initial discussion about FDI by Saudi Aramco took place when Saudi crown prince Mohammed bin Salman visited India in February. Reliance Industries is India’s second largest refiner and most profitable company. The sale of one fifth of its share in the petrochemicals business would bring around 10-15 billion dollars in the coffers of Reliance. The market capitalization of Reliance is around 120 billion dollars with the petrochemical business accounting for half of the valuation. Reliance would carve out the petrochemical business before the Aramco deal.

Saudi Aramco wants a larger presence in the Indian oil and gas business. India is set to surpass China as the second largest consumer of oil after the United States. The appetite of Indians for energy is growing and refining capacities need to be expanded. India has the fourth largest oil refinery capacity in the world after United States, China and Russia. The US has refining capacity 841 MTPA (Metric tonnes per annum) while China has a capacity of 589 MTPA. China alone accounts for 41 percent of Asia’s production capacity while Russia has capacity of 282 MTPA. India has 266 MTPA production capacity and may soon overtake Russia with such massive investments by companies like Saudi Aramco.

The state owned company of Saudi Arabia, Saudi Aramco has stakes in the 44 billion dollars Ratnagiri Refinery and Petrochemicals (RRPCL) project where Abu Dhabi National Oil Co. and India public sector oil companies are its partner.  Saudi Aramco and Abu Dhabi National Oil Company (Adnoc) will hold 50 percent stake in the project while Indian oil majors like Indian Oil Corporation (IOC), Bharat Petroleum Corporation (BPCL) and Hindustan Petroleum Corporation (HPCL) will own the rest.

The fdi deal with Saudi Aramco would help Reliance Industries to knock off its debt. The consolidated net liabilities of the company have grown exponentially in the last few years. In the fiscal year FY 19, the company has a net liability of 45 billion dollars which is almost 40 percent its total valuation. The debt has grown due to its entry in telecom business with Reliance Jio which distributed more freebies than any politician of the country could imagine. The company wants to free up the resources from refinery and petrochemical to focus on consumer and telecom. This is the reason behind the plan to create separate entity for the petrochemical business.

Tags: FDIMuhammad bin SalmanMukesh AmbaniOTCReliance IndustriesSaudi ArabiaSaudi Aramco
Share2TweetSend
Previous Post

P Chidambaram makes irresponsible and divisive statement, says BJP would not touch article 370 if Kashmir were Hindu majority

Next Post

UP Police impresses again, uses WhatsApp to crack down on hoaxes

Amit Agrahari

Amit Agrahari

Engineering grad but Humanities and social sciences are my forte. Avid reader of religious Scriptures (Especially Hindu), Lord Shiva devotee

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms of use and Privacy Policy.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

  • Most Read
  • Latest
Xi Jinping, coronavirus, Shinzo Abe, china, Japan, coornavirus, COVID-19, Wuhan Virus

‘Pack up and get out of there,’ Japan to spend $2.2 billion to get Japanese companies to exit China

9 April 2020
ajay devgn karan johar

The man who bullied the Bully – How Ajay Devgn made Karan Johar’s monopoly a joke and forced him to apologize

22 June 2020
Huawei, China, Trump, USA, Xi Jinping

‘Our survival is at stake now,’ Chinese Telecom giant Huawei crumbles after US ban on Semiconductor exports

19 May 2020
T-Series Sonu Nigam Divya Khosla Kumar Bhushan Kumar

T-Series forced to take down Atif Aslam’s video, Divya Khosla trolled. T-Series has a bad day in office

25 June 2020
SFJ, Khalistani, farmers protests

Khalistani terrorists in the garb of farmers have planned to attack Delhi’s power grid on 26th of Jan

24 January 2021
Nusrat Jahan, TMC, Prashant Kishor

Prashant Kishor meticulously created the myth of Hindu Bride Nusrat Jahan, she destroyed it with just one tweet

24 January 2021
Google, Neeva, Search engine

Neeva Search Engine: Ex-Google executives tie-up with IITans to create Google’s rival

24 January 2021
Rahul Gandhi, Congress, Tamil Nadu

Tamil Nadu is India, India is “Tamil Nadu, but India is not Tamil Nadu”, Rahul Gandhi makes his translator go blank

24 January 2021

Popular This Week

Arnab Goswami, Modi, Pulwama Attack
Trending

It was not just Arnab but 1.3 Billion Indians who knew that PM Modi was going to do something “big” after the Pulwama attack

by Sanbeer Singh Ranhotra
18 January 2021
Imran Khan, Balakot Airstrike, Pakistan, PM Modi
Trending

Imran Khan was trying to “rip into PM Modi”, ended up accepting that IAF bombed the poop out of Pakistan

by Sanbeer Singh Ranhotra
18 January 2021
China, vaccines, India
Trending

China finally admits that it lost the vaccine war to India

by Yash Joshi
22 January 2021
Tandav, social media, ali abbas zafar
Trending

As Tandav director issues a sorry excuse of an apology, its stars share memes on social media

by Abhinav Singh
20 January 2021
PM Modi, Shah Faesal
Trending

Shah Faesal beats the most seasoned Bhakts in worshipping Prime Minister Modi

by Sanbeer Singh Ranhotra
23 January 2021

©2021 TFI Media Private Limited

  • Terms of use
  • Privacy Policy
  • Sitemap
No Result
View All Result
  • Politics
    • Analysis
    • Opinions
    • Trending
  • Economy
    • Business
    • Finance
  • Defense
    • Defence
    • Strategy
    • Weaponry
  • Geopolitics
    • Africa
    • Americas
    • Asia Pacific
    • Europe
    • South Asia
    • West Asia
  • Knowledge
    • Culture
    • History
    • Indology
  • Lounge
    • Books
    • Cinema
    • Food
    • Health
    • Sports
    • technology
    • Travel
    • Satire
  • Newswire
TFI Official Merchandise
हिन्दी
  • About us
  • Columnists
  • Careers
  • Brand Partnerships
  • rightlog is now TFIPOST

©2021 TFI Media Private Limited