Saudi Arabia in discussions with Reliance for joint refining projects

India’s Reliance, operator of the world’s biggest refining complex, and top oil exporter Saudi Arabia will explore joint investments in refining and petrochemicals in the two countries, Saudi Arabian Energy Minister Khalid al-Falih said.

Al-Falih tweeted that he met Reliance Industries chairman Mukesh Ambani and they discussed joint investment opportunities and cooperation in petrochemicals, refining and telecoms in their two countries.

Reliance’s two oil refineries in western India have a combined capacity to process 1.4 million barrels per day of crude and the company has set a target to raise capacity by a further 600,000 bpd.

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