August 12, 2019 / 1:49 PM / 3 months ago

Saudi Aramco says in early talks over India's Reliance stake

DUBAI, Aug 12 (Reuters) - Saudi Aramco has signed a letter of intent with India’s Reliance to potentially buy a stake in its refining and petrochemicals business but talks are at “a very early stage”, a senior Aramco executive said on Monday.

“This is very, very early stages of the deal that would allow us to conduct required due diligence going forward,” Khalid al-Dabbagh, senior vice president of finance, told an analyst call after the company reported first half results. (Reporting by Hadeel al-Sayegh and Rania El Gamal; editing by Deepa Babington)

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