Oil Ministry invites Reliance Industries, BP to invest in fuel retail in India

Oil Ministry invites Reliance Industries, BP to invest in fuel retail in India

Reliance Industries (RIL) and BP have been invited to invest in fuel retail in India, Oil Minister Dharmendra Pradhan said today.

Pradhan’s tweet comes ahead of a press conference that would be held by RIL and BP at 5.30 pm where the two companies are about to make a joint announcement.

Reliance already operates about 1,500 fuel retail outlets in the country, a small number compared to the nearly 56,000 owned by Indian Oil, BPCL and HPCL. It has, however, indicated in the past it would want to ramp up this number following the government’s decision to deregulate diesel prices. Read more

Credits:www.moneycontrol.com

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