No sooner has the ink dried on a giant Indian refining JV deal than Aramco requests 'exclusive' talks to join the project. As with all of the Saudi state giant's overseas refining ventures, securing crude sales is central.

Indian state petroleum firms IOC, HPCL and BPCL on 14 June signed a joint venture agreement to develop a giant refining complex at Ratnagiri on India’s Arabian Sea coast. The following day Indian Petroleum Minister Dharmendra Pradhan told reporters that...