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Reliance Industries, BP to set up fuel retail joint venture

Reliance Industries and BP have agreed to set up a 51:49 joint venture to operate their fuel retailing business, targeting setting up 5,500 filling stations in five years and offer home delivery of fuel. Reliance Industries chairman Mukesh Ambani and BP group chief executive Bob Dudley signed heads of agreement for the venture in Mumbai on Tuesday. BP obtained a licence to market transportation fuel in India three years ago but didn’t begin. BP already has stake in RIL’s upstream business. 

Read More at The Economic Times News date : 7 Aug 2019, Wednesday

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