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Reliance, BP ink deal to set up fuel retail stations under Jio-BP brand

The venture is expected to be formed during the first half of 2020; it aims to expand RIL's retail fuel network to 5,500 in 5 years

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3 min read Last Updated : Dec 17 2019 | 1:08 AM IST

Reliance Industries (RIL) on Monday said its joint venture with BP will retail fuel under the Jio-BP brand name. The two companies entered into an agreement for forming the joint venture on Monday, RIL said in a statement.

In August this year, RIL announced a joint venture with BP for its fuel retail business in India. The company on Monday disclosed details on the planned joint venture.

“BP and RIL today (Monday) signed a definitive agreement relating to the formation of their new Indian fuels and mobility joint venture. This follows the initial heads of agreement signed in August this year,” RIL

Topics : Reliance Industries Limited Jio oil trade Aviation fuel Petrol pumps fuel retail

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