For Free Headlines Submit Your Email
Monday, June 25, 2018 17:53 GMT
Abu Dhabi National Oil Co (ADNOC) will sign an agreement with Saudi Aramco and Indian companies on Monday for an up to 25% stake in a planned US$44 billion refinery and petrochemical project in India, a government source said. Major oil producers are targeting Asia, where fuel demand is growing, as a stable outlet for their oil. 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 (bpd) by 2030. "The deal will...More