India an investment priority for Saudi Aramco, says CEO Amin Nasser

Attendees huddle around a laptop computer as they sit below a Saudi Arabian Oil Co. (Aramco) sign, inside the King Abdulaziz Center for World Culture during a tour of the project in Dhahran, Saudi Arabia, on Friday, Nov. 25, 2016. Photographer: Simon Dawson/Bloomberg

Saudi Aramco said on Wednesday that investing in India is a priority for the company, and it expects the country’s oil demand to rise to 8.2 million barrels per day by 2040.

“India is an investment priority for Saudi Aramco,” CEO Amin Nasser said at a panel discussion in New Delhi.

Nasser is part of the entourage travelling with Saudi Arabia’s Crown Prince Mohammed bin Salman, who is in India for a one-day visit.

The prince, known as MBS, is in India along with leading Saudi businessmen and company representatives at the invitation of Prime Minister Narendra Modi.

Nasser said India currently buys about 800,000 barrels a day of Saudi Arabian oil.

“India looking for stronger ties with Saudi,” said Sanjiv Singh, chairman of India Oil Corp Ltd, India’s biggest state-owned crude oil refiner.

The panel discussion was also attended by SABIC, a unit of Aramco and the world’s fourth-largest petrochemicals maker.

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Reuters

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.