India and Saudi Arabia have invited each other to invest in refineries in their countries. India has offered Saudi Aramco a stake in three upcoming refineries at Bina, Bhatinda and Paradip.

The three refineries are being commissioned by BPCL (Bina in Madhya pradesh) HPCL (Bhatinda in Punjab) and IOC (Paradip in Orissa)

At a meeting between petroleum minister Murli Deora and his Saudi counterpart Ali al-Niami, Saudi Aramco also invited Indian companies to invest in a refinery in the oil-rich kingdom.