Saturday, October 19, 2019

Reliance Industries makes a new pact with BP to sell jet fuel in India

Mukesh Ambani-owned Reliance Industries announced a new pact with BP to sell fuel for airlines in India. The announcement came with the company's quarterly earnings report.
 "BP and RIL agreed to form a new joint venture that will include a retail service station network and aviation fuels business across India. Building on Reliance’s existing Indian fuel retailing network and an aviation fuel business, the partners expect the venture to expand rapidly to help meet the country’s fast-growing demand for energy and mobility. Reliance will get approximately ₹7,000 crore from BP’s investment in this joint venture," the statement said.
 18/10/19 Sriram Iyer/Business Insider India
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