Aramco Eyes Indian Energy Sector

Saudi Arabian state-owned oil company Saudi Aramco wants to be present in the entire “value chain” of India’s energy sector, its Chief Executive Officer Amin Nasser said in New Delhi on Monday. The company did not spell out the plan’s specifics, but indicated that fuel marketing is one of them, Reuters reported. The firm is looking at “all options” to enter fuel retailing through partnerships with Indian oil companies, Nasser said. Aramco and UAE’s Abu Dhabi National Oil Company signed a deal on Monday, which allows the latter to partner in the 1.2-million-barrel crude oil refinery proposed in Western India. India, the world’s third biggest oil importer and consumer, aims to expand its refining capacity by 77% to 8.8 million barrel per day by 2030.