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India invites BP and Reliance to invest in fuel retailing

Reuters  |  NEW DELHI 

(Reuters) - India's minister invited and Industries Ltd (RIL) on Thursday to invest in fuel retailing after they jointly pumped billions of dollars into a gasfield off the country's east coast.

Chief Executive Bob Dudley and Chairman Mukesh Ambani, who met India's minister Dharmendra Pradhan in on Thursday, will hold a conference later in the day.

"& have invested in KG Basin," Pradhan said in a tweet after the meeting. "Invited them to invest in retail as well."

He did not elaborate.

holds a 60 percent stake in a gas block in the Krishna Godavari (KG) basin, owns 30 percent while Calgary-based Niko Resources Ltd holds the rest.

(Reporting by Krishna N. Das; editing by David Clarke)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)