ARAMCO, RELIANCE DEAL 20%
REUTERS - Saudi Aramco reported a 12% fall in half-year net profit on Monday, yet remained the world's most profitable company, while India's Reliance Industries (RELI.NS) said Aramco is looking to buy into its refining and petrochemicals business.
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.
Aramco, which declined to comment on the Indian deal, reported a net profit to $46.9 billion.
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