Up to 25 billion!

Bloomberg reported that Saudi Aramco is discussing the purchase of approximately 20% of Reliance Industries with company shares valued at approximately US$20 billion to US$25 billion
.

It is reported that this is the first all-share transaction of Saudi Aramco since its listing in 2019
.

Reliance Industries announced that it will sell 20% of its petrochemical business to Saudi Aramco in 2019 for US$15 billion
.

In August 2020, Saudi Aramco had stated that although the decline in oil prices forced it to cut investment expenditures, it was still striving to acquire Reliance Industries Ltd.
's refining and chemical business shares at a price of 15 billion US dollars.
However, last year, oil prices and demand were affected.
After the pandemic collapsed, the transaction stalled
.

In late June, Reliance Group Chairman Mukesh Ambani stated that he hopes to formally establish a partnership with Saudi Aramco this year, and its chairman Yasir Al-Rumayyan will join the Indian conglomerate’s board of directors as an independent director
.

It is reported that the transaction will help Aramco achieve its goal of more than doubling its refining capacity to 8-10 million barrels per day
.