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Both countries have begun to view each other as strategic and economic partners. Saudi Arabia is India’s fourth largest trading, partner and bilateral trade stood at $42.68 billion in 2021.

Similar joint ventures and alliances with Indian companies are being pursued in Guyana and Suriname, with long-term rights.

Official delegation in Saudi Arabia meets key leaders, officials, company executives

Ambani had at RIL's annual general meeting last month stated that the Aramco deal had been delayed 'due to unforeseen circumstances in the energy market and the COVID-19 situation'.

The O2C business includes Reliance's refining and petrochemical divisions, and its 51 per cent stake in its fuel marketing business.