December 17, 2018 / 2:54 PM / 5 months ago

Saudi's Falih discusses joint refining projects with India's Reliance

FILE PHOTO: Saudi Arabia's Oil Minister Khalid al-Falih talks to journalists at the beginning of an OPEC meeting in Vienna, Austria December 6, 2018. REUTERS/Leonhard Foeger/File Photo

LONDON (Reuters) - 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.

Reporting by Nidhi Verma in New Delhi, writing by Ahmad Ghaddar

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