Reliance and Saudi Aramco call off deal amid valuation differences
29.11.2021
MOSCOW (MRC) -- Reliance Industries and Saudi Aramco have called off a deal for the state oil giant to buy a stake in the oil-to-chemicals business of the Indian conglomerate due to valuation concerns, sources with knowledge of the matter said, as per Reuters. Talks broke down over how much Reliance's oil-to-chemicals (O2C) business should be valued as the world seeks to move away from fo