BP and Reliance Industries Limited (RIL) has signed a definitive agreement relating to the formation of their new Indian fuels and mobility joint venture.
The venture is expected to be formed during the first half of 2020, subject to regulatory and other customary approvals.
The new venture, a further development of RIL and BP’s longstanding partnership, will include an India-wide fuels retail service station network and aviation fuel marketing business. Building from RIL’s existing businesses, the partners expect the venture to co-create a world-class fuels partnership to grow rapidly and help meet India’s fast-growing demands for energy and mobility.
The venture expects to expand from RIL’s current fuel retailing network of over 1,400 retail sites and 30 aviation fuel stations across India to up to 5,500 retail sites and 45 aviation fuel stations over the next five years to become the most preferred provider of automotive and aviation fuels. The retail
