BP and RIL to form fuels and mobility JV under Jio-BP brand
To expand retail network to 5,500 sites over next 5 years
BP and Reliance Industries 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.
The venture is expected to be formed during the first half of 2020, subject to regulatory and other customary approvals.
The new venture, a further development of RIL and BP’s longstanding partnership, will include an India-wide fuels retail service station network and aviation fuel marketing business.
