Reliance Industries and Saudi Aramco have mutually agreed to shelve plans for the latter to take a stake in the Indian company’s oil-to-chemicals (O2C) business. Reliance is now withdrawing its application with India’s National Company Law Tribunal to spin off the O2C business in preparation for the deal.
Abu Dhabi National Oil Company (ADNOC) and India’s Reliance Industries have entered into an agreement to build a world-scale chlor-alkali, ethylene dichloride (EDC) and PVC complex at the Ta’ziz industrial chemicals zone in Ruwais, Abu Dhabi.
UK-headquartered multinational energy group BP has announced it will inject $70 million later this year into India’s Green Growth Equity Fund (GGEF). Based in Mumbai, GGEF invests in scalable operating companies and platforms across renewable energy, energy efficiency, energy storage, e-mobility, resource conservation and associated value chains.
