RIL had planned to sell 20% stake in its refining and petrochemicals business for $15 bn to Saudi Aramco, as part of chairman Mukesh Ambani's plan to deleverage RIL balance sheet Mumbai: Historically low crude oil prices could mean the multi-billion dollar deal between Reliance Industries and Saudi Aramco could take longer to seal.
Chairman Mukesh Ambani had last August announced Reliance Industries' plan to sell 20% stake in its refining and petrochemicals business for $15 billion to Saudi Aramco, as part of his plan to deleverage RIL's balance sheet .
Since August 2019, crude has dropped 64.52%. From $58.23 per barrel on 15 August, 2019, it is now hovering around $20.66. "Given the crude price, the realizations will shrink and thus the