Aramco eyeing majority stake in Bharat Petroleum

摘要

Saudi Aramco, currently in due diligence with Reliance Industries following an agreement to acquire a 20% stake in Reliance’s oil-to-chemicals business, is also eyeing the acquisition of the Indian government’s majority stake in Bharat Petroleum Co. Ltd. (BPCL; Mumbai), sources have confrmed. The plan is part of Aramco’s aggressive push into the downstream sector to reduce its economic dependence on energy.