Saudi Aramco will soon enter the Indian petroleum market, will make such a big investment
The world’s largest oil company Saudi Aramco will soon enter India. This information has been given by sources related to the company. According to the information, Aramco can enter the Indian market alone or through joint venture. The company is currently preparing the outline for its business in India. For this, the company is currently researching the size of the Indian petroleum market, demand, business models of government and private sector oil companies already working in this sector. The company plans to create its own identity by adopting a low carbon emission model in India.
Preparation for huge investment in the country
Sources associated with the company say that Aramco is preparing to expand its business in many countries of the world. For this, the company has allocated an initial fund of about 150 billion dollars. If we talk about India, the company can invest 20 to 25 percent of this fund considering the market place here.
Indian consumers will benefit
Energy sector experts say that if the world’s largest oil company like Aramco enters the Indian market, then Indian consumers will get the biggest benefit from it. With increased competition in the market, they will get better quality oil products. Besides, pressure on companies will also increase on the price front. Consumers will benefit from this.
Company’s emphasis on AI and latest technology
Let us tell you that Aramco has registered a profit of $ 121.3 billion in 2023. However, this was 25 percent less than the profits for 2022. Last year the company had a profit of $ 161 billion. After this the company has made a major change in its strategy. Now the company is emphasizing on adopting AI and latest technology in its work. The company is adopting Artificial Intelligence (AI), drones and latest technology to improve its operations. According to future needs, the company has made foolproof preparations to enter into emerging markets like transportation, renewable energy besides petroleum.
