Govt relaxes fuel retailing norms, private firms can set up petrol pumps

The government expects more private players, including foreign players, to invest in retail fuel marketing

Paving the way for the entry of new players in the fuel-marketing space, the government on Wednesday scrapped a rule that mandated a company to commit at least Rs 2,000-crore investment in the petroleum sector. With this, newer players like Total, Adani, and Saudi Aramco — and even super markets — can open outlets for selling automobile fuel.

Entities seeking authorisation will now need to have a minimum net worth of Rs 250 crore only. Authorised entities will, however, have to meet certain conditions such as setting up a minimum 5 per cent of their retail outlets in the notified remote