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Reliance and BP to create major world-class fuels partnership in India
BP and Reliance Industries Limited (RIL) are planning to form a new joint venture that will include a fuel retail service station network and aviation fuels business across India.
India is expected to be the fastest-growing fuels market in the world over the next 20 years, with the number of passenger cars in the country estimated to grow almost six-fold over the period. RIL and BP’s venture will incorporate and build on RIL’s current fuel retailing network of over 1,400 sites across the country, which the partners aim to grow rapidly to up to 5,500 sites over the next five years.
The joint venture will also include RIL’s aviation fuels business, which currently operates at over 30 airports across India, providing participation in this rapidly-growing market.
The new joint venture company will be held 51% by RIL and 49% by BP.
One of Reliance’s exiting fuel retail sites in India. Once the joint venture is complete and operating, the branding of the sites may change
Photo: Reliance/BP
