Saudi Aramco and India’s Reliance Industries have decided to call off a planned joint refining project worth $15 billion on valuation differences. According to a Reuters report, citing unnamed sources, the talks between the two companies fell through because they could not agree on how much the business, in which Aramco was to acquire a stake, was worth.
The business in question is Reliance’s oil-to-chemicals division. Now, according to Reuters sources, the Indian conglomerate will sign deals with multiple companies to produce higher-margin…Aramco And Reliance Industries Scrap $15 Billion Refinery Deal
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