Petrol pump expansion by state-owned oil marketing companies may grind to a halt in the next few months after the last of the dealerships built as part of an expansion that began in 2014 go on stream. In the last three years, OMCs have not issued any advertisements inviting potential dealership aspirants.
In six to nine months, Indian Oil Corporation Ltd (IOCL), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) will not have any more outlets to set up, two OMC executives aware of the matter said. This, at a time when private fuel retailers Essar Oil Ltd and Reliance Industries Ltd are rapidly expanding their own networks to cash in on market pricing of fuel.
For expansion in new locations, OMCs advertise in newspapers inviting individuals interested in setting up dealerships to apply. Read More…
Latest posts by Livemint (see all)
- Engie May Sell Stake In India Solar Operations - March 19, 2018
- RIL, Essar Oil, ONGC, Torrent In Race For CNG Retailing Permit - March 19, 2018
- Abu Dhabi Signs $1.45 Billion Offshore Deal With French Oil Giant Total - March 19, 2018