In a bid to expand its footprint in the growing Indian oil sector, the world’s biggest oil company, Saudi Aramco, has expressed interest to capture a significant portion of the USD 300-billion investment opportunity announced by the government in the oil and gas sector in India in the next 10 years.

Company is also keen on acquiring a stake in India’s biggest upcoming oil refinery on the western coast in Ratnagiri, Maharashtra. Announcement comes after the much talked-about Essar-Rosneft deal and highlights the attractiveness of the Indian oil market. It also reinforces the changing oil marketing landscape and chances of upcoming intense competition.

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