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India's richest Mukesh Ambani keen to foray into Fuel Retail market

  • Mukesh Ambani, Reliance Industries, Dharmendra Pradhan, Petroleum and Natural Gas, BP Plc, Bob Dudley
    Bob Dudley and Reliance Industries Limited Chairman Mukesh Ambani

    Mukesh Ambani, and his British partner Bob Dudley of BP came calling on the government as they looked to revive investments in fuel retail,

  • Mukesh Ambani, Reliance Industries, Dharmendra Pradhan, Petroleum and Natural Gas, BP Plc, Bob Dudley
    Mukesh Ambani coming out after meeting Dharmendra Pradhan

    RIL and BP have been invited by the Centre to invest in fuel retailing.

  • Mukesh Ambani, Reliance Industries, Dharmendra Pradhan, Petroleum and Natural Gas, BP Plc, Bob Dudley
    At its peak in 2005, the company had a 12 per cent market share in fuel retailing.

    RIL had in 2008 began shutting down some of its fuel pumps when crude price climbed to $158 a barrel.

  • Mukesh Ambani, Reliance Industries, Dharmendra Pradhan, Petroleum and Natural Gas, BP Plc, Bob Dudley
    BP may go for a joint venture with Reliance to capture the market share dominated by the state-owned firms.

    With the dynamic pricing of fuel now in place, RIL may be trying to make comeback in the segment, eyeing a 10% market share.

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