<h1>Saudi Aramco Gains Control of SABIC with 70% Stake Acquisition Approved by Competition Commission of India.</h1> The Competition Commission of India has approved Saudi Arabian Oil Company's (Saudi Aramco) acquisition of a 70% shareholding in Saudi Basic Industries Corporation (SABIC) from the Public Investment Fund of Saudi Arabia. This transaction grants Saudi Aramco sole control over SABIC. Saudi Aramco is involved in crude oil and natural gas exploration, production, and marketing, while SABIC focuses on producing and selling chemicals, polymers, and fertilizers. In India, Saudi Aramco supplies crude oil and petrochemical products, and SABIC provides agri-nutrient and petrochemical products. A detailed order from the Commission will be issued subsequently.