{"id":99638,"date":"2025-08-13T00:00:00","date_gmt":"2025-08-13T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2025\/08\/13\/aramco-is-reportedly-looking-to-acquire-a-stake-in-an-indian-refinery\/"},"modified":"2025-08-13T00:00:00","modified_gmt":"2025-08-13T00:00:00","slug":"aramco-is-reportedly-looking-to-acquire-a-stake-in-an-indian-refinery","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2025\/08\/13\/aramco-is-reportedly-looking-to-acquire-a-stake-in-an-indian-refinery\/","title":{"rendered":"Aramco is reportedly looking to acquire a stake in an Indian refinery"},"content":{"rendered":"

Good morning, ladies and gentlemen, and a very happy almost-THURSDAY to you all.<\/strong> We\u2019re approaching the end of summer as schools are set to begin their first semester of the year on Sunday, and the news cycle is picking up steam in tandem. We lead our newswell this morning with the latest forecasts from our friends at EFG Hermes, who expect to see Saudi Arabia\u2019s GDP growing at a 4.5% clip this year \u2014 a more bullish projection than most. <\/p>\n

Also on deck today:<\/strong> Aramco is reportedly looking to acquire a stake in an Indian refinery, Hamad Mohammed Bin Saedan issued its prospectus for a Nomu IPO, and First Mills signed a final agreement for its acquisition of Manar Feed. <\/p>\n

WEATHER- <\/strong>Thunderstorms will continue to hit the Kingdom today with Riyadh expected to see a high of 45\u00b0C and a low of 36\u00b0C today, while Jeddah\u2019s mercury will go as high as 40\u00b0C and as low as 32\u00b0C. Makkah will see a 40\u00b0C high and 35\u00b0C low.<\/p>\n

PSAs- <\/p>\n

Infrastructure<\/strong> works in residential areas can now be carried out from 7am to 6pm,<\/strong> Sunday through Thursday<\/strong>, and from 7am to 1pm on weekends, after new working hours for these works came into effect on 7 August, Riyadh Infrastructure Project Center said on X<\/a> on Monday. The new working hours are part of the Infrastructure Projects Code<\/a> announced in July. Infrastructure works \u2014 including telecommunications, energy, water, sewage, and roads \u2014 outside these hours requires an emergency permit.<\/p>\n

WATCH THIS SPACE-<\/p>\n

<\/a> Aramco reportedly eyeing 20% stake in BPCL\u2019s refinery:<\/strong> Aramco is in talks to acquire a 20% stake in Indian Bharat Petroleum Corporation\u2019s (BPCL) planned refinery-cum-petrochemical complex (RcPC) at Ramayapatnam, The Hindu<\/a> reports, citing government sources. Negotiations between the governments of India and Saudi Arabia are reportedly focused on finalizing terms and conditions, with an agreement expected by year-end.<\/p>\n

BPCL is also in talks with Aramco for a long-term crude oil supply agreement for the RcPC<\/strong>, which is designed to help meet India\u2019s rising energy demand. The Indian government has allocated 6k acres for the project, which will have a refining capacity of 9 mn metric tons per annum (mmtpa) and is estimated to cost nearly INR 1 tn (c.USD 12 bn). Plans to expand the refinery's capacity to 12 mmtpa are also on the table. Commissioning is expected to take at least four years after securing regulatory approvals.<\/p>\n

BPCL has earmarked INR 61 bn (c. USD 730 mn) for pre-project activities<\/strong>, including feasibility studies, land acquisition, environmental impact assessments, and engineering design. The government had initially offered three sites \u2014 Machilipatnam, Ramayapatnam, and Mulapeta in Srikakulam \u2014 with BPCL selecting Ramayapatnam for logistics and multimodal connectivity advantages.<\/p>\n

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CABINET WATCH-<\/p>\n

Cabinet<\/strong> agreed yesterday to a one-year extension on a royal decree that<\/strong> requires labor lawsuits to go through an amicable settlement process<\/strong> before reaching a court, state news agency SPA<\/a> reports. The Council of Ministers also approved amendments to the rules governing the structure of the Saudi Bar Association during their meeting. <\/p>\n

The cabinet also approved a string of agreements, including: <\/strong><\/p>\n