Dutch oil major Royal Dutch Shell is planning to snap up a major stake in a petrochemical businesses, according to anonymous sources cited by Reuters. According to the source, Shell signed a memorandum of understanding to pick up a 50% stake in India-based Nayara Energy’s petrochem project. Nayara Energy Limited (formerly Essar Oil Limited), which also runs India’s second-largest single-site refinery that makes up 8% of India’s total refinery capacity, is 49.13% owned by PJSC NK Rosneft, which it picked up in August of 2017. The…
