💸🚛 லாரிக்கு லாபம் ₹1.1Lakhs😱

Описание: Reliance Industries has shut all of its 1,432 petrol pumps in the country after sales dropped to almost nil as it could not match the subsidized price offered by public sector competition.

The company owned less than 3% of the 36,936 petrol pumps in the country. Of the total retail outlets, state run Indian Oil Corporation (IOC), Bharat Petroleum Corporation (BPCL) and Hindustan Petroleum Corporation (HPCL) own 34,304 pumps, while the remaining belong to private sector Essar Oil and Shell India.

“Reliance has informed that sales at their retail outlets was negligible due to selling price differential between private and public sector ROs, leading to the closure of all their 1,432 pumps in the country with effect from 15 March," Petroleum Minister Murli Deora informed the Rajya Sabha on 6 May.

Public sector currently sell petrol at a loss of Rs13.97 a litre and diesel at a discount of Rs20.97 per litre. This revenue loss is made up by the Government through issue of oil bonds and subsidy share from upstream firms like ONGC and GAIL.

Private firms such as Reliance were not entitled for the subsidy and priced fuel from their pumps at Rs8-10 a litre higher than public sector competition, leading to fall in market share.

“The price of sensitive petroleum products are fixed by the public sector oil marketing companies in consultation with the Government," Deora said. “Private oil companies are not subject to pricing restrictions by the Government and are free to take their pricing decisions on commercial considerations," he added.
However, Essar Oil and Shell India have not closed their petrol pumps, he said.
Gujarat had the highest number of Reliance pumps at 246 outlets, followed by Maharashtra (160), Uttar Pradesh (132), Andhra Pradesh (129) and Rajasthan (107).
Deora said IOC, BPCL and HPCL plan to set up 1,830 more petrol pumps in the country during 2008-09 fiscal.
The gross under-recoveries of the state-run retailers on sale of petrol, diesel, domestic LPG and kerosene in 2007-08 are estimated at Rs77,303 crore, he said.
The Government issued oil bonds to IOC, BPCL and HPCL worth Rs20,333 crore and upstream oil companies contributed Rs15,873 crore to partially compensate the under-realisation for April-December period.
Now, Jio petrol pump: RIL, BP start fuel retailing joint venture under this brand.Global energy supermajor BP plc and Reliance Industries Ltd on Thursday announced the start of their fuel retailing joint venture under the brand ‘Jio-bp’.
BP had last year bought 49 per cent stake in the 1,400-odd petrol pumps and 31 aviation turbine fuel (ATF) stations owned by Reliance Industries Ltd (RIL) for USD 1 billion.
The joint venture, where RIL holds the remaining 51 per cent, has now commenced operations.
BP had last year bought 49 per cent stake in the 1,400-odd petrol pumps and 31 aviation turbine fuel (ATF) stations owned by Reliance Industries Ltd (RIL) for USD 1 billion.
“For the same period, the impact absorbed by the oil companies after the issue of bonds and subsidized by the upstream oil companies, is likely to be Rs11,413 crore," he added.“Following initial agreements in 2019, bp and RIL teams have worked closely over the past few months in a challenging environment to complete the transaction as planned,” the companies said in a joint statement, adding the new fuels and mobility joint venture, Reliance BP Mobility Ltd (RBML), has started operations.Operating under the ‘Jio-bp’ brand, the joint venture aims to become a leading player in India’s fuels and mobility markets.
RBML has received the marketing authorisation for transportation fuels, amongst other necessary regulatory and statutory approvals.
The joint venture will begin selling fuels and Castrol lubricants with immediate effect from its existing retail outlets, which will be rebranded to ‘Jio-bp’ in due course.
“It will leverage Reliance’s presence across 21 states and its millions of consumers through the Jio digital platform. bp will bring its extensive global experience in high-quality differentiated fuels, lubricants, retail, and advanced low carbon mobility solutions,” the statement said.
India’s auto fuel retailing is dominated by public sector oil companies that own the majority of 69,392 petrol pumps in the country. State-ow ned IOC, BPCL and HPCL own 62,072 petrol pumps and 224 out of the 256 aviation fuel stations in the country.
BP and RIL said they expect the venture to grow rapidly to help meet India’s fast-growing demands for energy and mobility.
“India is expected to be the fastest-growing fuel market in the world over the next 20 years, with the number of passenger cars in the country estimated to grow almost six-fold over the period. RBML aims to expand from its current fuel retailing network of over 1,400 retail sites to up to 5,500 over the next five years,” the statement said.
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