Explained: Why RIL-Aramco deal could be a template for refinery sector

There are still many meetings and miles to go for the proposed investment by Saudi Aramco in Reliance Industries Limited (RIL) to come through. The $15-billion deal is still “at the very, very early stages”, as Khalid al-Dabbagh, Saudi Aramco’s senior vice- president for finance, strategy and development, said at the company’s first-ever earnings call on Monday. A report by Seeking Alpha also quoted him as saying lower Saudi exports to the US and Europe is the result of slowing demand from these regions and growing demand from Asia. An International Energy Agency (IEA) .....

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