Government grants BP PlC licence to set up petrol pumps in India

Posted on:19 Oct 2016 09:43:34

Government grants BP PlC licence to set up petrol pumps in India
19 October 2016 Current Affairs GK: Government has formally granted a licence to BP Plc, Europe's third-biggest oil company, to set up 3,500 petrol pumps in India, making it the 10th company to enter the lucrative fuel retailing sector. 

The company was granted a formal licence on October 14. BP granted licence to market Motor Spirit (petrol) and High Speed Diesel (diesel) - another milestone for BP in India .

The UK-based firm, as also Haldia Petrochemicals Ltd, was given approval by the Oil Ministry to retail petrol and diesel .

The company had in January this year won in-principle approval to retail aviation turbine fuel (ATF) to airlines in India. Subsequently, it got full approval for that. 



BP, which had in 2011 bought 30 per cent interest in 21 exploration blocks of Reliance Industries for USD 7.2 billion, had cited investment of nearly USD 500 million in oil and gas exploration and production for gaining the licence. 

India currently has about 56,190 petrol pumps, with public sector firms operating a majority of them. 

Private sector operators are limited to Essar Oil and Reliance Industries, who between them have some 3,500 petrol pumps. Royal Dutch Shell operates 82 petrol stations. 

Private sector operators are limited to Essar Oil and Reliance Industries, who between them have some 3,500 petrol pumps. Royal Dutch Shell operates 82 petrol stations. 

State-owned Indian Oil Corp (IOC) owns 25,363 petrol pumps, Hindustan Petroleum Corp Ltd (HPCL) 13,802 stations and Bharat Petroleum Corp Ltd (BPCL) 13,439 outlets. 

Kolkata-based Haldia Petrochemicals Ltd (HPL) was the latest company to get licence to set up upto 100 petrol pumps, mostly in West Bengal. 

In ATF or jet fuel retailing, there are 205 aviation fuel stations, 100 of which are owned by IOC, 40 by BPCL and 37 by HPCL. RIL has 27 aviation fuel stations at airports while joint venture of Shell and MRPL owns one. 

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