Reliance Industries makes a new pact with BP to sell jet fuel in India

• Mukesh Ambani-owned Reliance Industries announced a new pact with BP to sell fuel for airlines in India.
• The company said that it will make about ₹7000 crore from the joint venture.
• The announcement came with the company's quarterly earnings report.

Mukesh Ambani-owned Reliance Industries announced a new pact with BP to sell fuel for airlines in India. The announcement came with the company's quarterly earnings report.

"BP and RIL 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. Reliance will get approximately ₹7,000 crore from BP’s investment in this joint venture," the statement said.

The two companies formed a partnership in 2011 and decided to expand the tie-up in 2017. The two companies together operate fuel retailing outlets in the country and intend to increase the number of fuel-vending stations to 5,500.

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