Saudi Arabia's push into Indian refineries stalled over crude oil supply

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Saudi Arabia's push into Indian refineries stalled over crude oil supply - Business Standard

Quick Summary:

Its weighted average share in overseas processors in 2024 was 35 per cent but it supplied an average 53 per cent of the crude they used, according to the document.

A proposed $60 billion refinery planned by Aramco, Abu Dhabi National Oil Co.and India’s state firms, didn’t materialise due to land acquisition issues.

The nations agreed last month to collaborate on the two plants, as the largest oil exporter seeks to tap a massive market that will help drive global demand growth.