India seeks Saudi investment in building strategic oil reserve

India has invited Saudi Arabia to invest in its strategic oil storage even as it looks to resurrect a $ 44 billion (Rs 3.08 lakh crore) refinery project with the world's largest oil producer after the BJP-ruled Maharashtra government denied land at the initial site. Saudi Aramco and its partner ADNOC of UAE have signed agreements to take 50 per cent stake in the project.