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Will 20% stake in RIL’s refining satisfy Aramco’s appetite for India?

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5 years ago

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Mumbai: Oil and crude have always created a buzz in the global market. As India is one of the economies where the oil demand is constantly increasing, it attracts market for the foreign oil companies to put their money in Indian Market.

 RIL (Reliance Industry Limited) has sold its 20% stake in its refining and petrochemicals business for $15 billion to Saudi Aramco on Monday, speculation has been rife if the latter would keep its commitment to the $44 billion west coast refinery and petrochemicals project being implemented in Maharashtra. The project called Ratnagiri Refinery and Petrochemicals Ltd (RRPCL), facing land acquisition challenges, has been moved from its original site in Ratnagiri to Roha.

Senior official from oil marketing company told “Saudi Aramco has a voracious appetite for the Indian market. A 20% stake in RIL will not satisfy that. In fact, Saudi Aramco wants a bigger share of the 50% stake in the west coast refinery,”. This shows the interest and appetite Aramco has for Indian sector.

RRPCL is a joint venture between Saudi Aramco, Abu Dhabi National Oil Company (Adnoc), and three state-run oil marketing companies, Indian Oil Corp. (IOCL), Hindustan Petroleum Corp. (HPCL) and Bharat Petroleum Corp. (BPCL). Saudi Aramco and Adnoc will jointly own 50% of the refinery, with the remaining 50% being owned by the Indian oil companies. Sales of gasoline, or petrol, were 8.8% higher from a year earlier at 2.52 million ton, while diesel sales climbed 3.3%, its highest year-on-year rise since January, to 6.83 million ton.

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Apple is giving a huge discount on its gadgets: Details inside

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2 years ago

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May 5, 2022

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If you want to buy an iPhone and were waiting for a nice offer, then we have a piece of good news for you! Amazon Summer Sale May 2022 has begun and they are offering major discounts on various smartphones, laptops, and smart TVs, among others.

The sale is live now on the e-commerce platform with no-cost EMI options and exchange discounts on various products. In addition to this, Amazon has also partnered with several banks including ICICI, Kotak Bank, and RBL so that customers get instant discounts of up to 10% using their cards and EMI transactions.

Customers can easily enjoy this summer sale and get massive discounts on iPhones. They can also compare prices on Flipkart Big Saving Days Sale 2022 before making a purchase.

 

Amazon Summer Sale May 2022: Discount offer on iPhone 13 

Apple’s coveted phone model iPhone 13 in the 128 GB storage model will be available during the Amazon Summer Sale May 2022 for Rs 64,900. The MRP of the phone is Rs 79,900. This means that the customers will be able to enjoy a discount of up to Rs 15,000 on the purchase of the iPhone 13.

If you have an old iPhone in working condition then you will also be eligible to receive another additional discount worth up to Rs 17,000 on the iPhone 13.

Buy at Rs. 64,900 (MRP – Rs. 79,900)

Features of Apple iPhone 13 

The iPhone is powered by an A15 Bionic processor with 6 core CPU. Apart from this, it has 16 core neural engines. With the iPhone 13, up to 512 GB of storage will be available. The iPhone 13 has a 6.1-inch Retina XDR display with 1000 nits brightness.

The iPhone 13 has a 12-megapixel dual rear camera setup. This time a new wide-angle camera has been given, whose aperture is f/1.6. With this, there is support for sensor optical stabilisation. Night mode has been made better than before. The second lens is also 12 megapixels ultra-wide and has an aperture of f/2.4.

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