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World’s largest oil firm Aramco plans to invest in India

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The world’s largest crude exporter with crude reserves of about 265 billion barrels Company Aramco is planning to make a major investment in India’s petroleum sector.

World's largest oil firm Aramco plans to invest in India

Aramco to put money in India’s petroleum sector:

  • The head of Aramco, Khalid A. Al Falih, recently stated that the company regarded India as the most preferred investment destination.
  • Saudi Arabia is currently India’s largest crude supplier, supplying one-fifth of the country’s oil
  • Dhahran based Oil major has earlier announced plans to build new plants in energy-hungry Asia including China, Indonesia, Malaysia and Vietnam.
  • The company mulling to expand its refining capacity to find new outlets for Saudi crude oil. It currently has a refining capacity of around 4 million barrels a day

Saudi Aramco:

  • The company headquartered in Dhahran, Khalid al-Falih is the chairman of the board and Saudi Health Minister.
  • Dhahran based Aramco officially called Saudi Arabian Oil Company is aSaudi Arabian national petroleum and natural gas
  • Aramco is probably to be worth well over $1tn. At that level it would be worth more than Apple, ExxonMobil and Facebook added together.
  • It Employs 51,653 Saudis and 10,254 expatriates from 77 countries, including at subsidiaries and affiliates in China, Egypt, Japan, India, the Netherlands, South Korea, Singapore, the United Arab Emirates, Britain and the United States.