The fate of a proposed mega refinery and petrochemical complex in India worth US$44 billion and involving the national oil companies of Saudi Arabia and the UAE could depend on the outcome of India’s general elections this spring and whether the party of incumbent Prime Minister Narendra Modi could win a second term in office. In June last year, Saudi Aramco and the Abu Dhabi National Oil Company (ADNOC) signed a framework agreement and a memorandum of understanding with a consortium of Indian national oil companies to join the…
