BP-Reliance to open first ‘Jio-bp’ branded petrol pump in Mumbai

JIO-BP Petrol Pump in Mumbai: Soon you will see ‘Jio-BP’ branded petrol pumps on the side of the highway or in the city. Global energy company BP Plc has announced that soon it is going to open its first ‘Jio-BP’ branded petrol pump in association with Reliance Industries. According to the company, the first petrol pump in the name of Jio-BP brand will be opened in the financial capital of the country, Mumbai.

Soon Jio-BP branded petrol pump will be seen

Speaking at the India Energy Forum organized by CERAWeek, BP Chief Executive Bernard Looney said the plan is to take the number of petrol pumps to 5,500 by 2025. “We have around 1,500 sites (petrol pumps) which were traditionally Reliance sites and have now become Geo-BP sites,” he said. We are going to open the first truly Geo-BP site near Mumbai.

All pumps will be named ‘Jio-bp’

In 2019, BP bought a 49 per cent stake in over 1,400 petrol pumps and 31 Aviation Turbine Fuel (ATF) stations owned by Reliance for USD 1 billion. Reliance’s existing petrol pumps have since been transferred to a joint venture, Reliance BP Mobility Limited. Reliance holds the remaining 51 percent stake in Reliance BP Mobility Limited (RBML). RBML has already got marketing rights for transport fuel. After Reliance took over the existing petrol pumps, the JV started selling the fuel and Castrol engine oil. In the coming time, all the outlets will be named ‘Jio-bp’.

Government companies dominate in oil marketing

India’s auto fuel retailing is dominated by state-owned oil companies Indian Oil, Bharat Petroleum and Hindustan Petroleum, which have 78,751 petrol pumps in the country.

read also

Multibagger Stock Tips: Know which stock invested in which 1 lakh rupees became 1.7 crores, got a return of 16750% in 22 years


Leave a Comment