State-owned Indian Oil Corporation Limited (IOCL), India’s largest fuel retailer is planning to almost double its retail outlets to more than 52,000 in the next three years, from 27,000 now to maintain its market leadership in fuel retail. These include both company-owned and franchisee-run outlets.
Together, state-owned oil marketing companies (OMCs) — IOCL, Hindustan Petroleum Corporation Limited (HPCL) and Bharat Petroleum Corporation Limited (BPCL) have plans to to add 50,000 new retail outlets in the next three years.
Among them, the trio currently has about 57,000 retail pumps. “We will add 50% of the 50,000 new retail outlets to be set up by the OMCs. Read More