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Reliance and BP to create major world-class fuels partnership for India's fast-growing market | |
admin | |
2019-08-06 | |
发布年 | 2019 |
语种 | 英语 |
国家 | 英国 |
领域 | 地球科学 |
正文(英文) |
BP and Reliance Industries Limited (RIL) today announced that they have 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.
"India is set to be the world's largest growth market for energy by the mid-2020s. BP is already a large investor here and we see further attractive, strategic opportunities to support this growth. We are working closely with Reliance to develop India's gas resources, helping meet the country's demand for that key fuel. Together we will work to provide consumers across India the high-quality fuels, convenience retail and services they need, continuing to drive modernisation and mobility solutions across the country."Bob Dudley, group chief executiveMukesh Ambani said: "We are delighted to expand our partnership with BP, one of the global leaders in the fuel-retailing sector. This partnership is a testimony to the strong ties between BP and Reliance. Our robust partnership in developing gas resources in India has now expanded to fuel retailing and aviation fuels. This transformative partnership will deepen our engagement with the consumers in further enhancing the world-class services across the country."
The partners have agreed to set up a new joint venture company, held 51% by RIL and 49% by BP, that will assume ownership of RIL's existing Indian fuel retail network and access its aviation fuel business. It is anticipated that final agreements will be reached during 2019 and, subject to regulatory and other customary approvals, the transaction will be complete in the first half of 2020.
After initial co-operation from 2008 in exploration offshore India, BP and RIL entered into their current partnership in 2011 when BP acquired a 30% interest in RIL's portfolio of exploration and production interests offshore India, including the major producing KG D6 gas-producing block off the east coast. More recently, since 2017 the partners have sanctioned three new gas developments in the KG D6 block. |
URL | 查看原文 |
来源平台 | BP Global |
文献类型 | 新闻 |
条目标识符 | http://119.78.100.173/C666/handle/2XK7JSWQ/217660 |
专题 | 地球科学 |
推荐引用方式 GB/T 7714 | admin. Reliance and BP to create major world-class fuels partnership for India's fast-growing market. 2019. |
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