Oman Oil is in talks with Reliance Industries, the largest company in India by market value, and Tata for ventures to meet rising demand for fuels and chemicals.
The ventures may be in both Oman and India, Oman Oil's chief executive, Ahmed Al Wahaibi, said in New Delhi. The company may raise its stake in a refinery being jointly built with a state-run firm, Bharat Petroleum, the chief executive said.
The Sultanate may offer its natural resources to companies like Reliance Industries which, according to Gulf News, plans to invest $24 billion on petrochemical projects in the Middle East.
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