Due to evolving nature of Reliance's business portfolio, Reliance and Saudi Aramco have mutually determined that it would be beneficial for both parties to re-evaluate the proposed investment in O2C business in light of the changed context.

"In our oils-to-chemicals business, we generated strong earnings through our integrated portfolio and superior product placement capabilities," said Mukesh Ambani, chairman and managing director of Reliance Industries.

In 2019, Reliance announced the sale of a 20% stake to Saudi Aramco, the world's top oil exporting company.

Under the terms of a strategic agreement, Reliance and TA'ZIZ will build plants with capacity to produce 940,000 mt/year of chlor-alkali, 1.1 million mt/year of ethylene dichloride and 360,000 mt/year of polyvinyl chloride at the TA'ZIZ Industrial Chemicals Zone, ADNOC said in a June 29 statement.

Reliance Industries Limited (RIL) and BP announced the start of production from the R Cluster, ultra-deep-water gas field in block KG D6 off the east coast of India.

Reliance, which is controlled by Asia’s richest man and manages the world’s biggest oil refinery complex, rose 4.3% in Mumbai on Friday

BP and Reliance Industries Limited (RIL) signed a definitive agreement relating to the formation of their new Indian fuels and mobility joint venture. This follows the initial heads of agreement signed in August this year.

Aramco signed a letter of intent to take a 20% stake in Reliance’s oil-to-chemicals business in one of the largest ever foreign investments in India, Reliance announced.

BP and Reliance Industries Limited (RIL) announced that they have agreed to form a new joint venture that will include a retail service station network and aviation fuels business across India. Building on Reliance's existing Indian fuel retailing network and an aviation fuel business, the partners expect the venture to expand rapidly to help meet the country's fast-growing demand for energy and mobility.

Reliance and BP fuel India gas dispute with arbitration notice