Indian Oil-Petronas JV to retail petrol, diesel, natural gas
Indian Oil NSE -0.72 % is planning to launch a new fuel and gas retail venture in partnership with Malaysia’s Petronas.
Indian Oil Petronas Pvt Ltd (IPPL), a two-decade-old joint venture in which the two firms hold equal stakes, will now get into retailing of transportation fuels as well as natural gas in India, Indian Oil Chairman S M Vaidya said.
IPPL is currently engaged in the import, storage, and bottling of liquified petroleum gas.
