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RIL to acquire Saudi's Jizan oil refinery
April 15, 2008: Reliance Industries (RIL) has set its sights on acquiring a majority stake in Jizan oil refinery in the Saudi Kingdom. Jizan oil refinery, with a capacity of processing up to 4,00,000 barrels of oil per day (bopd), will be the first refinery in Saudi Arabia to be wholly owned and operated by the private sector. RIL has been looking for an entry in the hydrocarbon-rich Kingdom for quite some time, but without much success.
Source: Economic Times