Competition between Mukesh Ambani and Gautam Adani
Gautham Adani | Attempts by Reliance chief Mukesh Ambani for a strategic partnership with Saudi Aramco, the world’s largest crude oil producer, have failed. The Adani Group, led by Gautam Adani, is reportedly on the lookout for strategic partners in Saudi Arabia.
It is learned that Gautam Adani is in the early stages of negotiating for joint investment options in companies like Saudi Aramco and the Saudi Government Public Investment Fund. Public Investment Fund (PIF) .. Saudi Arabia Sovereign Wealth Fund. Exploring potential opportunities to invest in infrastructure projects in India.
It is learned that Gautam Adani has also discussed the proposal to buy a PIF stake in Aramco. He is reportedly exploring opportunities with Saudi Aramco affiliates and partnerships. The Adani Group, led by Gautam Adani, and Saudi Aramco declined to comment.
There is an interesting rivalry between Mukesh Ambani and Gautam Adani, two of the richest men in Asia, not just in the country. Elevations are being made to achieve the upper hand in the energy sector. Running in the same direction in the same direction opened the screen for an interesting competition.
There is a strange rivalry between Mukesh Ambani and Gautam Adani from Gujarat and two others are investing in the green energy sector. In business circles, there is a growing interest in whether anyone can reach the goal before signing deals on solar power and hydrogen power generation in particular. The latest decision by Gautam Adani has once again sparked controversy.
Gautam Adani and Mukesh Ambani have chosen different paths in the case of the Saudi Aramco company in Saudi Arabia, a major producer of petrol. Reliance and Saudi Aramco have decided to jointly engage in crude oil production. To this end, Mukesh Ambani has appointed representatives of Saudi Aramco to the Board of Reliance at the 2021 Annual General Meeting. But after three months, things changed. Reliance has announced that it is backtracking on crude oil investments as it is investing heavily in green energy. This put an end to three years of negotiations.
Following the failure of negotiations with Reliance, Saudi Aramco acquired a 4 percent stake in the Public Investment Fund. Gautam Adani is currently interested in investing in this public investment fund. To this end, the first round of talks with Saudi Aramco has also been completed. On the other hand, Gautam Adani is looking to strengthen its presence in the traditional crude oil sector while investing in solar and hydrogen power, which it claims to be the energy of the future.
Market experts say Reliance will not be in big trouble if the Saudi Aramco deal does not happen. Reliance is already producing crude oil in the KG basin. So the decision on the Saudi deal is being taken lightly. On the other hand, Vedanta Anil Agarwal is also investing heavily in crude oil production. To this end, Cairn plans to work with the company.