NEW DEHLI, India — The managing director of Reliance Industries Limited announced the biggest deal of Indian history with Saudi Arabia’s state-run energy group, Saudi Aramco. He said Saudi Aramco is ready to purchase a 20% stake in Reliance Industries Limited. He told the media that the deal between monsters companies was finalized a few days ago, after acquiring a 20% stake in Reliance Industries Limited Saudi Aramco will be bound to supply 500,000 barrels of crude oil every day to Reliance Industries refinery. In October 2018, India’s Reliance Industries Ltd had halted imports of Iranian crude oil ahead of the U.S. sanctions against Tehran’s oil sector. Today's Indian business report claimed that shares of Ambani's Reliance Industries Limited climbed over 11% after deal with Saudi Aramco. Saudi Aramco, officially the Saudi Arabian Oil Company, is a Saudi Arabian government petroleum and natural gas company based in Dhahran, Saudi Arabia. It is one of the largest revenue earning companies in the world according to Bloomberg.
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