Background of Saudi Aramco & ADNOC join hands for petroleum retail in India

        Adonic expressed interest for having investment with Indian crude oil companies on the basis of Pudor strategic oil reserves. The Indian companies are participating in the ongoing auctions of oil and gas in UAE. The companies are trying to have tie with some local major Mubadala Petroleum. The President and Chief Executive Officer of Saudi Aramco, Amin H Nasser discussed about the strategy of company as to step in to the full value chain. Saudi Aramco is considering some opportunities to tie up with Adonic for retail petroleum and marketing [1]. According to the president, the threshold investment is a mega project that is RS 20 billion in the natural gas and oil sectors. According to the central government, in future of 2022, the oil industry Ratnagiri Refinery and Petrochemicals (RRPCL) in Maharashtra will be able to extract 60 million tons of crude oil. Prime minister of India, Narendra Modi assured the fast acquisition of land how the trade of oil will induce positive impact on the Maharashtra. The official confirmation is required for how much Adonic will contribute in the project [2]. The sources of Saudi Aramco and AdvoCare considerable for the foreign block. The Indian government is planning to acquire nearly 15,000 acres in the Babul wadi district to initiate the project. The plans of government are to develop largest refinery of the world in Ratnagiri District. The Memorandum was signed between UAE minister of State Ahmed Al Jaber and Chief executive officer of Adonic [1]. The strategic partnership was designed to develop crude supply, new technology, resources and expertise. The project is specially designed to improve the GDP rate as 12 percent. I have been appointed as a head of operations and logistics at the Saudi Aramco. The present report provides information about all the opportunity that is required by the company to overcome.

References of Saudi Aramco & ADNOC join hands for petroleum retail in India