New Delhi, Aug. 13 -- On Monday, Reliance Industries Ltd (RIL) chairman and managing director Mukesh Ambani announced a proposed $15 billion deal with Saudi Arabian Oil Co. (Saudi Aramco). Once the deal happens, state-run Saudi Aramco will acquire a 20% stake in RIL's oil-to-chemicals (OTC) business, whose enterprise value is pegged at $75 billion. Though the Saudi state suffered a severe public image setback globally as a result of the Khashoggi affair, it hasn't shelved plans for an Aramco IPO a year or so in the future. To enhance its own valuation, forging business alliances with large-scale consumer firms such as RIL makes sense. Perhaps, as some suggest, Aramco would also learn the art of shareholder management by working with RIL. That the Saudi firm can count on RIL buying its crude oil supplies goes without saying. On current information, Aramco is expected to supply RIL half a million barrels a day of the stuff....