40,000 petrol pumps to open within 3 yrs
40,000 petrol pumps to open within 3 yrs

40,000 petrol pumps to open within 3 yrs

New Delhi: Amidst the increasing fuel price hike and growing demand for fuel, public-private companies are gearing up to establish more petrol pumps in India. Indian Oil, Bharat Petroleum and Hindustan Petroleum, the oil companies in public sectors, are planning to start 40,000 petrol bunks within 3 years.

Reliance Industries Limited, the private firm which has 1343 petrol pumps at present, will raise the number of petrol pumps to 5000.

In October 2016, BP (British Petroleum), a multinational firm has got the approval to establish 3500 petrol pumps in India. In the first phase, BP has signed an agreement with Reliance to start 2000 pumps in India.

It is reported that these companies have decided to jointly set up as many as 2000 pumps on national highways within 3 years.

BP, the oil firm headquartered in London, is the partner of Reliance in oil exploration and production. BP has bought a 30 percent share in 21 oil and gas production-sharing contracts operated by Reliance. Both companies are partners in India Gas Solutions Private Limited, a firm launched for sourcing and marketing gas in India.

A total of 57,312 petrol pumps are operated in India. Among them, 5800 pumps are owned by private firms like Reliance, Essar and Shell.

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