Saudi Aramco to buy 50% of $44-bn Maharashtra oil refinery

The world's largest producer of crude oil, Saudi Aramco, will buy 50% stake in the proposed $44-billion refinery project in Maharashtra. The remaining 50% stake will be held by Indian Oil, Bharat Petroleum and Hindustan Petroleum. Saudi Aramco will supply at least 50% of the 60 million tonnes of crude to be processed at the planned refinery, officials said.