This global petroleum giant is making its debut in the high-stakes Indian ‘Jet-Fuel’ market
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British petroleum major "BP has been granted 'in-principle' approval to market
What attracted BP to India was its rapidly growing airline business, which is expected to be the third largest by 2020. BP, which is one of the world's largest aviation fuel marketers, has a presence in 50 countries and boasts of several airlines, airports and military organisations as its clients.
After its debut in the Indian market, its long experience, expertise and brand equity will be in competition with the easy supply, longstanding ties with clients and control over marketing infrastructure of the already existing Indian companies.
Talking of the legal formalities, for a licence to market transport fuel in India, a company must have invested or proposed to invest at least Rs 2,000 crore in exploration and production, refining, pipelines or terminals in the country. Last year, the Indian government had rejected BP's application for licence on this very ground.
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These competitors include private players like Reliance Industries, Essar and a joint venture of Shell and state-run MRPL. However, even these players have failed to challenge the dominance of state firms, and especially
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