RIL to formalize partnerships with Saudi Aramco this year; Al-Rumayyan to join board: Chairman

24/06/2021 Argaam

Saudi Aramco logo

Reliance Industries Ltd (RIL)  Chairman Mukesh Ambani hopes to formalize its partnership and the oil-to-chemicals deal with Saudi Aramco this year, Reuters reported.  

 

Aramco Chairman Yasir Al-Rumayyan will also join RIL as an independent director, Ambani added.

 

In 2019, Reliance announced a sale of a 20% stake in its oil-to-chemicals business for $15 billion to Saudi Aramco.

 

In October 2020, a senior executive at Saudi Aramco said that the company may finalize the acquisition of a stake in RIL’s oil-to-chemicals business by 2021.

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