Reliance-Aramco put $15bn oil-to-chemicals deal on the backburner

The two players had signed a non-binding LoI in 2019, with Reliance potentially selling a 20% stake in its oil-to-chemicals business to Aramco

Falling short: Mukesh Ambani, chairman and managing director of Reliance Industries
Falling short: Mukesh Ambani, chairman and managing director of Reliance IndustriesPhoto: REUTERS/SCANPIX
Published 22 November 2021, 03:12Updated 22 November 2021, 03:14