GLOBAL OIL MAJORS SET TO ENTER INDIA IN A BIG WAY
PUBLIC SECTOR CONTROL IN OIL RETAILING MAY SOON END
2019-12-16 09:54
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India’s fuel refining and marketing business, largely controlled by public sector enterprises, faces a big shake up following the government policy to induce foreign oil companies to invest big in refining and retail. Among those global giants keen to set up facilities in India are Saudi Aramco, the world’s second largest oil and gas company after China’s Sinopec, Total SA of France, BP Plc of UK, Exxon Mobil of the US and Singapore-based Trafigura’s downstream arm Puma Energy. Total SA in partnership with Adani Group has applied for a licence to retail petrol and diesel through 1,500 outlets. BP has formed a partnership with Reliance Industries to set up petrol pumps.