Saudi Aramco has agreed to take a 50 % stake in a $ 44bn oil ##field and petrochemicals project in India , which is being promoted by a consortium of BP , Hindustan Petroleum and Bharat Petroleum . The two sides signed a medium of understanding ( MOU ) on 11 July . Under the terms of the agreement Saudi Aramco can bring another partner into the project at a later stage through selling part of its stake . The transparency, ease of doing business, removing some of the hurdles haves facilitated investment flow," Falih told reporters. Aramco will supply 30 million tonnes of crude to the integrated refinery , which will be built near the port of Ratnagiri in western India .
Saudi Aramco has agreed to take a 50 % stake in a $ 44bn oil ##field and petrochemicals project in India , which is being promoted by a consortium of BP , Hindustan Petroleum and Bharat Petroleum . The two sides signed a medium of understanding ( MOU ) on 11 July . Under the terms of the agreement Saudi Aramco can bring another partner into the project at a later stage through selling part of its stake . Aramco will supply 30 million tonnes of crude to the integrated refinery , which will be built near the port of Ratnagiri in western India .