Proxy advisory firm questions Saudi Aramco's chairman Yasir Al-Rumayyan's 'independence' on RIL board
The California State Teachers' Retirement Fund has decided to vote against the appointment of Saudi Aramco's chairman as an independent director to the board of RIL, BloombergQuint reported
It has started preliminary talks with potential investors including large commodity traders, according to the peope.
Deal activity doesn't suggest an industry gearing up for a rally in demand.
Reliance could reach an agreement with energy firm as soon as the coming weeks.
The deal size may include $3.5 billion of equity and the remainder will be funded by bank debt, one source said, while another source said the transact .
Saudi Aramco is in advanced talks for an all-stock deal to acquire a stake in the company's oil refining and chemicals (O2C) business, a Bloomberg report said
Company says its results were supported by the global easing of Covid-19 restrictions, vaccination campaigns
The global energy industry has seen a ramp up in cyber attacks with Colonial Pipeline becoming the most visible of late
Saudi Aramco will also get a board seat in RIL's newly carved out oil to chemicals subsidiary
The scale of its green energy debut is stunning
Success of partnership key to internationalisation plans, say RIL executives
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In their base case scenario, Jefferies maintains a price target of Rs 2,540 on RIL stock - an upside of around 15 per cent from the current levels
An announcement of Al-Rumayyan's induction on the RIL board or the board of the newly carved oil-to-chemical (O2C) unit may come as early as at the company's annual shareholder meeting on June 24
The transaction does not impose any restrictions on Aramco's actual crude oil production volumes
Estimates show overall economy shrank 3.3% in first quarter
Indian state refiners on Thursday placed orders for regular supplies from Saudi Aramco for June, after reducing purchases this month, drawn by lower prices by the world's top oil exporter
Brent crude has climbed almost 35% this year