Government has formally granted a licence to BP, Europe’s third-biggest oil company, to set up 3,500 petrol pumps in India.It is a UK-based firm.BP granted licence to market Motor Spirit (petrol) and High Speed Diesel (diesel) – another milestone for BP in India. BP PLCii. For a licence to retail auto fuels – petrol, diesel and ATF, a company should have invested a minimum of Rs.2,000 crore in
exploration or production of oil and gas, oil refining, gas or product pipeline or terminals leading to additionally to the existing assets or creation of new assets in the eligible activities. Petrochemicals Ltd, was given approval by the Oil Ministry to retail petrol and diesel.
iii. BP, which had in 2011 bought 30 per cent interest in 21 exploration blocks of Reliance Industries for $7.2 billion, had cited investment of nearly $500 million in oil and gas exploration and production for gaining the licence.
iv. India currently has about 56,190 petrol pumps, with public sector firms operating a majority of them.Private sector operators are limited to Essar Oil and Reliance Industries, who between them have some 3,500 petrol pumps.
v. Royal Dutch Shell operates 82 petrol stations.State-owned Indian Oil Corp (IOC) owns 25,363 petrol pumps, Hindustan Petroleum Corp Ltd (HPCL) 13,802 stations and Bharat Petroleum Corp Ltd (BPCL) 13,439 outlets.
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