Reliance Industries is India’s biggest and richest company. If we talk about Jio, it has been super successful since the beginning. And now, the industry is all set to enter the business of oil retailing.
The oil retailing outlets are going to be named under Jio. The collaboration is taking place with BP (The British Petroleum Company plc). Jio’s new petrol pumps would be known as Jio-BP Pumps.
Jio Petrol Pumps
With the name of Reliance, alone, a total of 1400 fuel pumps are there in India (and 30 pumps at Petrol Pumps). Once Jio-BP Pumps are done with the establishment, there will be a total of 5500 fuel pumps.
The Jio & BP Partnership will be fruitful in the initial half of 2020 and then, the 1400 fuel pumps, as well as 30 others at airports, will come under the brand Jio-BP Pumps.
The History
Reliance and BP began their partnership in 2011. At that time, BP happened to purchase a 30% stake in RIL and paid $7.2 bn. With this, BP got the functioning of 21 gas and oil exploration as well as Reliance production blocks.
In 2016, BP had a major breakthrough by receiving a license to market jet fuel. Later in October 2016, it also achieved government approval to layout 3500 pumps of fuel across India.
