The company which has already bolstered its presence in China, hopes to "see more announcements on investments in Indian companies", Faqeer told India Energy week in Goa on Wednesday.
Aramco has signed at least two downstream deals with Chinese companies in less than a year, including building a petrochemical complex in China's southeastern Fujian provinceVaranasi Wealth Management. It also agreed to buy a 10pc stake in Chinese private-sector refinery and petrochemical firm Rongsheng Petrochemicals last year.Mumbai Stock Exchange
"We found a good match on our strategy with Chinese companies, which is the main reason for our continued investments in China", Faqeer said, adding that most of the refineries in China are integrated with petrochemical plants.Surat Stock
Aramco is also expanding its partnership with other Asia-Pacific customers, including South Korea, through new crude deals.
Additionally, the firm is also working with UAE's state-controlled Adnoc and Indian state-controlled refiner IOC to develop the 1.2mn b/d refinery at Ratnagiri in west India's Maharashtra state. In 2021, Aramco and Indian conglomerate Reliance Industries called off a multi-billion dollar deal in which the Saudi firm had agreed to buy 20pc stake in Reliance's oil-to- chemical business.Kolkata Investment
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