Minimum Rs 500 crore net worth must for licence to sell petrol, diesel to retail, bulk users

The government on Tuesday said any entity with a net worth of at least Rs 500 crore is eligible for obtaining the liberalised licence to sell petrol and diesel to retail and bulk consumers.

Clarifying on the November 2019 liberalised fuel licensing regime, the Ministry of Petroleum and Natural Gas said any entity with a net worth of Rs 250 crore can get a licence to retail petrol and diesel to either bulk or retail consumers.

For those seeking authorisation for both retail and bulk should have a minimum net worth of Rs 500 crore at the time of application, it said in a statement.