Abu Dhabi National Oil Co (ADNOC) will sign an agreement with Saudi Aramco and Indian companies on Monday for an up to 25 percent stake in a planned $44 billion refinery and petrochemical project in India, a government source said.
Major oil producers are targeting Asia, where fuel demand is growing, as a stable outlet for their oil.
India, the world's third biggest oil importer and consumer, aims to expand its refining capacity by 77 percent to 8.8 million barrel per day (bpd) by 2030.
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