Easier norms likely to pump-prime fuel retailing segment

The government is planning a major reform in fuel marketing to allow foreign energy giants such as Saudi Aramco, Total and Trafigura, as well as supermarket chains to enter the lucrative business.

The oil ministry has readied a Cabinet proposal to scrap the nearly two-decade-old rule of restricting the licence to market petrol, diesel and jet fuel to companies that have invested or propose to invest Rs 2,000 crore in exploration and production, refining, pipelines or terminals in the country, said a person with knowledge of the matter.