Discussions between India’s largest company, Reliance Industries, and Aramco, the world’s single biggest oil producing firm, have hit a stumbling block as the Indians want higher valuation than the Saudis are willing to pay for a stake in Reliance’s downstream business, Reuters reported on Tuesday, quoting two people with knowledge of the issue. In April this year, reports emerged that Saudi Arabia’s oil giant Aramco was in “serious discussions” to buy up to 25 percent of the refining and petrochemicals businesses of India’s largest company, Reliance Industries. Aramco first showed interest in Reliance’s downstream business months ago, but discussions sped up after Saudi Crown Prince Mohammed bin Salman visited India in February, according to The Times of India . The two sides could reach an agreement on the value of a possible deal around June, the Indian outlet’s sources said. A stake of 25 percent could fetch around US$10 […]