Latest news with #Jio-BP
United News of India
26-06-2025
- Business
- United News of India
Adani Total-Jio BP tie up to retail Petrol, Diesel, CNG at fuel outlets
Mumbai, June 25 (UNI) Adani Gas Ltd has stated in a filing to the stock exchange that Adani Total Gas Ltd (ATGL) and Jio-BP have entered into a strategic partnership to jointly retail petrol, diesel and CNG across select fuel outlets belonging to each other. According to the deal, select Adani Total fuel stations will retail Jio-BP's petrol and diesel, while select Jio-BP outlets will host Adani Total CNG dispensing units within Adani Total's authorised geographical areas. Adani Total Gas Ltd, which is a joint venture between the Adani Group and TotalEnergies of France, is a leading city gas distribution company which supplies natural gas to households, commercial establishments and industries, while also retailing gas to motorists. Adani Total's business portfolio also involves compressed biogas, electric vehicle charging solutions and LNG for the transportation sector. Jio-BP, which is a joint venture between Reliance Industries Limited and British Petroleum (BP), has a strong network in fuel retailing, alternative low-carbon energy products as well as convenience stores. Jio-BP Chairman Sarthak Behuria said, "The two companies are united by a common vision to offer customers high-quality fuels. This partnership allows us to leverage each other's strengths to further enhance the value we provide to India'. Adani Total's Executive Director & CEO Suresh P Manglani said, 'It is our shared vision to provide a complete range of high-quality fuels at our outlets. This partnership will enable us to leverage each other's infrastructure, thus enhancing customer experience and offerings'. The partnership will cover both existing and forthcoming retail fuel outlets of the two companies. Presently, Adani Total operates around 650 CNG stations, while Jio-BP runs a retail network of nearly 2,000 fuel stations. Adani Total holds authorisation to supply PNG and CNG in 34 geographical areas, while its joint venture with Indian Oil, namely IOAGPL, is authorised to do so in another 19 geographical areas across India. The company's total reach is 53 geographical areas across 125 districts of India. Adani Total has also set up subsidiaries for biomass and electric mobility businesses. UNI XC SSP
Time of India
06-06-2025
- Business
- Time of India
Refiners Reliance and Nayara tap India's drivers as export markets tighten
India's two major private-sector refiners, which have long prioritised exports, are turning to local sales, grabbing share in the country's fast-growing $150 billion fuel retail market as weaker global demand squeezes profit margins offshore. Reliance Industries and Nayara Energy are stepping up sales at home as fuel demand growth slows in developed markets and China, the world's second biggest oil consumer, with the transition to electric vehicles. The lower demand offshore combined with supply competition from new refiners, such as Dangote in Nigeria, and rising exports from China's underutilised processors have compressed global refining margins and have made the Indian market, where suppliers save on freight and taxes, more attractive. As a result, "private refiners are increasingly looking to supply to the domestic market, which is still growing at a healthy pace," said Prashant Vasisht, senior vice president at credit rating firm ICRA. The International Energy Agency expects India will become the largest source of global oil demand growth out to 2030, in contrast with China, where fuel demand may have already peaked. FGE analyst Dylan Sim said Indian gasoline consumption and diesel demand are on track to grow around 4 per cent and 2 per cent per year, respectively, over the next decade or so. "Couple that with the market volatility and uncertainties seen in recent years, it makes sense for these private companies to try and diversify their businesses," Sim said. Private Plants Hold Crude Advantage Offering discounts and growing their networks of big, modern stations featuring expansive retail offerings, private sector operators expanded their share of diesel sales to 11.5 per cent and gasoline sales to 9.2 per cent in the fiscal year that ended in March 2025, up from 5.2 per cent and 6.7 per cent respectively two years earlier, government data showed. Reliance , controlled by billionaire Mukesh Ambani, and Nayara have a key advantage that allows them to undercut the dominant state-owned refiners at the pump. They can run cheaper crudes through their plants than their bigger rivals, which have simpler, aging refineries. The two are the country's biggest buyers of discounted Russian crude , available since 2022. While the private refiners do not publish their refining margins, analysts at Jefferies expect Reliance's margin to hold around $2 a barrel stronger than the benchmark Singapore refining margin due to its blending of cheaper Russian and Canadian crudes. Reliance sells fuels through Jio-BP , its retailing tie-up with UK major BP which has 1,916 outlets in India. Its domestic sales volumes of diesel rose by 35 per cent and gasoline by 24 per cent in the quarter ended in March from a year ago, Reliance told analysts in May, without specifying volumes. Jio-BP plans to invest about 10 billion rupees ($117 million) annually to expand its local footprint in coming years as it sees a "long pathway" and growth in diesel demand in India through at least 2040, Vinod Tahiliani, chief financial officer at Reliance BP Mobility, told Reuters. Jio-BP offers discounts of 1 rupee ($0.01) per litre of diesel and petrol off the price charged by state-owned retailers at its service stations. Nayara, whose biggest shareholder is Russia's Rosneft, in April reintroduced discounts of 2-3 rupees per litre on gasoline and 1 rupee per litre on diesel. Selling through more than 6,500 fuel stations, it aims to add 400 this year, according to its website. Nayara did not reply to a request for comment. State players Indian Oil Corp , Hindustan Petroleum Corp and Bharat Petroleum Corp, which operate more than 90 per cent of India's roughly 97,000 filling stations, have not cut pump prices as they seek to recoup losses on sales of cooking gas at government-fixed below-market rates, company sources say. The three did not respond to Reuters' requests for comment. Service Stations Get Creative India, meanwhile, is expanding its highway network and auctioning large roadside plots for building fuel stations featuring a host of amenities for motorists. Sukhmal Jain, who recently retired as head of marketing at BPCL , said state refiners are rapidly building their networks, including bidding for highway-side plots, and looking to offer services such as eateries, recreational areas and gym facilities in order to compete and boost sales. The state retailers are also opening stores under a common brand name Apna Ghar, which means "Own House", with amenities such as dormitories, barbers, self-cooking facilities, laundry, and doctors on call for truckers who are on the road for more than 20-25 days a month, Jain said. India's oil ministry said recently that Apna Ghar operates at 350 locations with 4,431 beds. S.P. Singh, who manages a fleet of about 800 trucks and 150 trailers for New Delhi-based Chaudhary Transport, said his drivers are drawn to the amenities and cheaper fuel at private operators. "They have convenience stores and cafes. Their staff is more responsive to customers and their toilets are clean," he said.
The Sun
06-06-2025
- Business
- The Sun
Private refiners tap India's drivers as export markets tighten
NEW DELHI: India's two major private-sector refiners, which have long prioritised exports, are turning to local sales, grabbing share in the country's fast-growing $150 billion fuel retail market as weaker global demand squeezes profit margins offshore. Reliance Industries and Nayara Energy are stepping up sales at home as fuel demand growth slows in developed markets and China, the world's second biggest oil consumer, with the transition to electric vehicles. The lower demand offshore combined with supply competition from new refiners, such as Dangote in Nigeria, and rising exports from China's underutilised processors have compressed global refining margins and have made the Indian market, where suppliers save on freight and taxes, more attractive. As a result, 'private refiners are increasingly looking to supply to the domestic market, which is still growing at a healthy pace,' said Prashant Vasisht, senior vice president at credit rating firm ICRA. The International Energy Agency expects India will become the largest source of global oil demand growth out to 2030, in contrast with China, where fuel demand may have already peaked. FGE analyst Dylan Sim said Indian gasoline consumption and diesel demand are on track to grow around 4% and 2% per year, respectively, over the next decade or so. 'Couple that with the market volatility and uncertainties seen in recent years, it makes sense for these private companies to try and diversify their businesses,' Sim said. PRIVATE PLANTS HOLD CRUDE ADVANTAGE Offering discounts and growing their networks of big, modern stations featuring expansive retail offerings, private sector operators expanded their share of diesel sales to 11.5% and gasoline sales to 9.2% in the fiscal year that ended in March 2025, up from 5.2% and 6.7% respectively two years earlier, government data showed. Reliance, controlled by billionaire Mukesh Ambani, and Nayara have a key advantage that allows them to undercut the dominant state-owned refiners at the pump. They can run cheaper crudes through their plants than their bigger rivals, which have simpler, aging refineries. The two are the country's biggest buyers of discounted Russian crude, available since 2022. While the private refiners do not publish their refining margins, analysts at Jefferies expect Reliance's margin to hold around $2 a barrel stronger than the benchmark Singapore refining margin due to its blending of cheaper Russian and Canadian crudes. Reliance sells fuels through Jio-BP, its retailing tie-up with UK major BP which has 1,916 outlets in India. Its domestic sales volumes of diesel rose by 35% and gasoline by 24% in the quarter ended in March from a year ago, Reliance told analysts in May, without specifying volumes. Jio-BP plans to invest about 10 billion rupees ($117 million) annually to expand its local footprint in coming years as it sees a 'long pathway' and growth in diesel demand in India through at least 2040, Vinod Tahiliani, chief financial officer at Reliance BP Mobility, told Reuters. Jio-BP offers discounts of 1 rupee ($0.01) per litre of diesel and petrol off the price charged by state-owned retailers at its service stations. Nayara, whose biggest shareholder is Russia's Rosneft, in April reintroduced discounts of 2-3 rupees per litre on gasoline and 1 rupee per litre on diesel. Selling through more than 6,500 fuel stations, it aims to add 400 this year, according to its website. Nayara did not reply to a request for comment. State players Indian Oil Corp, Hindustan Petroleum Corp and Bharat Petroleum Corp, which operate more than 90% of India's roughly 97,000 filling stations, have not cut pump prices as they seek to recoup losses on sales of cooking gas at government-fixed below-market rates, company sources say. The three did not respond to Reuters' requests for comment. India, meanwhile, is expanding its highway network and auctioning large roadside plots for building fuel stations featuring a host of amenities for motorists. Sukhmal Jain, who recently retired as head of marketing at BPCL, said state refiners are rapidly building their networks, including bidding for highway-side plots, and looking to offer services such as eateries, recreational areas and gym facilities in order to compete and boost sales. The state retailers are also opening stores under a common brand name Apna Ghar, which means 'Own House', with amenities such as dormitories, barbers, self-cooking facilities, laundry, and doctors on call for truckers who are on the road for more than 20-25 days a month, Jain said. India's oil ministry said recently that Apna Ghar operates at 350 locations with 4,431 beds. S.P. Singh, who manages a fleet of about 800 trucks and 150 trailers for New Delhi-based Chaudhary Transport, said his drivers are drawn to the amenities and cheaper fuel at private operators. 'They have convenience stores and cafes. Their staff is more responsive to customers and their toilets are clean,' he said. ($1 = 85.7900 Indian rupees)
The Sun
06-06-2025
- Business
- The Sun
India's private refiners shift focus to domestic fuel sales
NEW DELHI: India's two major private-sector refiners, which have long prioritised exports, are turning to local sales, grabbing share in the country's fast-growing $150 billion fuel retail market as weaker global demand squeezes profit margins offshore. Reliance Industries and Nayara Energy are stepping up sales at home as fuel demand growth slows in developed markets and China, the world's second biggest oil consumer, with the transition to electric vehicles. The lower demand offshore combined with supply competition from new refiners, such as Dangote in Nigeria, and rising exports from China's underutilised processors have compressed global refining margins and have made the Indian market, where suppliers save on freight and taxes, more attractive. As a result, 'private refiners are increasingly looking to supply to the domestic market, which is still growing at a healthy pace,' said Prashant Vasisht, senior vice president at credit rating firm ICRA. The International Energy Agency expects India will become the largest source of global oil demand growth out to 2030, in contrast with China, where fuel demand may have already peaked. FGE analyst Dylan Sim said Indian gasoline consumption and diesel demand are on track to grow around 4% and 2% per year, respectively, over the next decade or so. 'Couple that with the market volatility and uncertainties seen in recent years, it makes sense for these private companies to try and diversify their businesses,' Sim said. PRIVATE PLANTS HOLD CRUDE ADVANTAGE Offering discounts and growing their networks of big, modern stations featuring expansive retail offerings, private sector operators expanded their share of diesel sales to 11.5% and gasoline sales to 9.2% in the fiscal year that ended in March 2025, up from 5.2% and 6.7% respectively two years earlier, government data showed. Reliance, controlled by billionaire Mukesh Ambani, and Nayara have a key advantage that allows them to undercut the dominant state-owned refiners at the pump. They can run cheaper crudes through their plants than their bigger rivals, which have simpler, aging refineries. The two are the country's biggest buyers of discounted Russian crude, available since 2022. While the private refiners do not publish their refining margins, analysts at Jefferies expect Reliance's margin to hold around $2 a barrel stronger than the benchmark Singapore refining margin due to its blending of cheaper Russian and Canadian crudes. Reliance sells fuels through Jio-BP, its retailing tie-up with UK major BP which has 1,916 outlets in India. Its domestic sales volumes of diesel rose by 35% and gasoline by 24% in the quarter ended in March from a year ago, Reliance told analysts in May, without specifying volumes. Jio-BP plans to invest about 10 billion rupees ($117 million) annually to expand its local footprint in coming years as it sees a 'long pathway' and growth in diesel demand in India through at least 2040, Vinod Tahiliani, chief financial officer at Reliance BP Mobility, told Reuters. Jio-BP offers discounts of 1 rupee ($0.01) per litre of diesel and petrol off the price charged by state-owned retailers at its service stations. Nayara, whose biggest shareholder is Russia's Rosneft, in April reintroduced discounts of 2-3 rupees per litre on gasoline and 1 rupee per litre on diesel. Selling through more than 6,500 fuel stations, it aims to add 400 this year, according to its website. Nayara did not reply to a request for comment. State players Indian Oil Corp, Hindustan Petroleum Corp and Bharat Petroleum Corp, which operate more than 90% of India's roughly 97,000 filling stations, have not cut pump prices as they seek to recoup losses on sales of cooking gas at government-fixed below-market rates, company sources say. The three did not respond to Reuters' requests for comment. SERVICE STATIONS GET CREATIVE India, meanwhile, is expanding its highway network and auctioning large roadside plots for building fuel stations featuring a host of amenities for motorists. Sukhmal Jain, who recently retired as head of marketing at BPCL, said state refiners are rapidly building their networks, including bidding for highway-side plots, and looking to offer services such as eateries, recreational areas and gym facilities in order to compete and boost sales. The state retailers are also opening stores under a common brand name Apna Ghar, which means 'Own House', with amenities such as dormitories, barbers, self-cooking facilities, laundry, and doctors on call for truckers who are on the road for more than 20-25 days a month, Jain said. India's oil ministry said recently that Apna Ghar operates at 350 locations with 4,431 beds. S.P. Singh, who manages a fleet of about 800 trucks and 150 trailers for New Delhi-based Chaudhary Transport, said his drivers are drawn to the amenities and cheaper fuel at private operators. 'They have convenience stores and cafes. Their staff is more responsive to customers and their toilets are clean,' he said. ($1 = 85.7900 Indian rupees)
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Business Standard
06-06-2025
- Business
- Business Standard
Private refiners tap domestic fuel market as export margins tighten
India's two major private-sector refiners, which have long prioritised exports, are turning to local sales, grabbing share in the country's fast-growing $150 billion fuel retail market as weaker global demand squeezes profit margins offshore. Reliance Industries and Nayara Energy are stepping up sales at home as fuel demand growth slows in developed markets and China, the world's second biggest oil consumer, with the transition to electric vehicles. The lower demand offshore combined with supply competition from new refiners, such as Dangote in Nigeria, and rising exports from China's underutilised processors have compressed global refining margins and have made the Indian market, where suppliers save on freight and taxes, more attractive. As a result, "private refiners are increasingly looking to supply to the domestic market, which is still growing at a healthy pace," said Prashant Vasisht, senior vice president at credit rating firm ICRA. The International Energy Agency expects India will become the largest source of global oil demand growth out to 2030, in contrast with China, where fuel demand may have already peaked. FGE analyst Dylan Sim said Indian gasoline consumption and diesel demand are on track to grow around 4 per cent and 2 per cent per year, respectively, over the next decade or so. "Couple that with the market volatility and uncertainties seen in recent years, it makes sense for these private companies to try and diversify their businesses," Sim said. PRIVATE PLANTS HOLD CRUDE ADVANTAGE Offering discounts and growing their networks of big, modern stations featuring expansive retail offerings, private sector operators expanded their share of diesel sales to 11.5 per cent and gasoline sales to 9.2 per cent in the fiscal year that ended in March 2025, up from 5.2 per cent and 6.7 per cent respectively two years earlier, government data showed. Reliance, controlled by billionaire Mukesh Ambani, and Nayara have a key advantage that allows them to undercut the dominant state-owned refiners at the pump. They can run cheaper crudes through their plants than their bigger rivals, which have simpler, aging refineries. The two are the country's biggest buyers of discounted Russian crude, available since 2022. While the private refiners do not publish their refining margins, analysts at Jefferies expect Reliance's margin to hold around $2 a barrel stronger than the benchmark Singapore refining margin due to its blending of cheaper Russian and Canadian crudes. Its domestic sales volumes of diesel rose by 35 per cent and gasoline by 24 per cent in the quarter ended in March from a year ago, Reliance told analysts in May, without specifying volumes. Jio-BP plans to invest about Rs 10 billion ($117 million) annually to expand its local footprint in coming years as it sees a "long pathway" and growth in diesel demand in India through at least 2040, Vinod Tahiliani, chief financial officer at Reliance BP Mobility, told Reuters. Jio-BP offers discounts of 1 rupee ($0.01) per litre of diesel and petrol off the price charged by state-owned retailers at its service stations. Nayara, whose biggest shareholder is Russia's Rosneft, in April reintroduced discounts of 2-3 rupees per litre on gasoline and 1 rupee per litre on diesel. Selling through more than 6,500 fuel stations, it aims to add 400 this year, according to its website. Nayara did not reply to a request for comment. State players Indian Oil Corp, Hindustan Petroleum Corp and Bharat Petroleum Corp, which operate more than 90 per cent of India's roughly 97,000 filling stations, have not cut pump prices as they seek to recoup losses on sales of cooking gas at government-fixed below-market rates, company sources say. The three did not respond to Reuters' requests for comment. SERVICE STATIONS GET CREATIVE India, meanwhile, is expanding its highway network and auctioning large roadside plots for building fuel stations featuring a host of amenities for motorists. Sukhmal Jain, who recently retired as head of marketing at BPCL, said state refiners are rapidly building their networks, including bidding for highway-side plots, and looking to offer services such as eateries, recreational areas and gym facilities in order to compete and boost sales. The state retailers are also opening stores under a common brand name Apna Ghar, which means "Own House", with amenities such as dormitories, barbers, self-cooking facilities, laundry, and doctors on call for truckers who are on the road for more than 20-25 days a month, Jain said. India's oil ministry said recently that Apna Ghar operates at 350 locations with 4,431 beds. S.P. Singh, who manages a fleet of about 800 trucks and 150 trailers for New Delhi-based Chaudhary Transport, said his drivers are drawn to the amenities and cheaper fuel at private operators. "They have convenience stores and cafes. Their staff is more responsive to customers and their toilets are clean," he said. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
