Government has formally granted a licence to BP Plc, Europe’s third-biggest oil company, to set up 3,500 petrol pumps in India, making it the 10th company to enter the lucrative fuel retailing sector.
The company was granted a formal licence on 14 October. “BP granted licence to market Motor Spirit (petrol) and High Speed Diesel (diesel)—another milestone for BP in India,” the company tweeted. The UK-based firm, as also Haldia Petrochemicals Ltd, was given approval by the oil ministry to retail petrol and diesel, officials said. “A significant step in #BP’s partnership with India—been granted licence to market Motor Spirit and High Speed Diesel,” it said. A BP India spokesperson had earlier this month stated that: “BP sees a strong future for transportation fuels in India. We are keen to be involved in this market and contribute to its development.”