New Delhi: India has rejected a request from BP Plc to be allowed to sell jet fuel to the booming aviation market in Asia's No. 3 economy, saying it did not meet the conditions necessary, a source with direct knowledge of the decision told Reuters.
Consumption of aviation fuel is set to rise in India as domestic air traffic is estimated to almost triple this decade, with more of the country's 1.25 billion people starting to fly and as airlines connect smaller cities.
Demand for aviation fuel in India could rise by 2.2 percent in the financial year beginning in April, according to the Petroleum Planning and Analysis Cell in the federal oil ministry.
BP is not the only overseas company interested in India's jet fuel retail business, which is dominated by state refiners. Royal Dutch Shell Plc already sells a small volume of jet fuel in a tie-up with state-run Mangalore Refinery and Petrochemicals Ltd.
30/03/15 Reuters
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Consumption of aviation fuel is set to rise in India as domestic air traffic is estimated to almost triple this decade, with more of the country's 1.25 billion people starting to fly and as airlines connect smaller cities.
Demand for aviation fuel in India could rise by 2.2 percent in the financial year beginning in April, according to the Petroleum Planning and Analysis Cell in the federal oil ministry.
BP is not the only overseas company interested in India's jet fuel retail business, which is dominated by state refiners. Royal Dutch Shell Plc already sells a small volume of jet fuel in a tie-up with state-run Mangalore Refinery and Petrochemicals Ltd.
30/03/15 Reuters
