These 6 Firms Allowed To Sell Petrol/Diesel To Consumers, Commercial Establishments (Full List)
The petroleum and natural gas ministry has given seven businesses permission to sell vehicle (auto) fuels in the country.The modified requirements for permission to market transportation fuels, which were revised in 2019, apply to these new licences.
The petroleum retail business in India is likely to become more competitive as a result of this.
Reliance Industries (RIL)
According to a top oil ministry official, a fresh marketing authorisation has been granted to Reliance Industries (RIL) under these norms.
Since RIL’s existing retail marketing authorization has been transferred to its subsidiary Reliance BP Mobility, Mukesh Ambani group reorganised its petroleum-to-chemicals industry, this was necessary.
RBML Solutions India
Another authorisation has been granted to RBML Solutions India under these new rules.
Indian Molasses Company
Chennai-based IMC (once called Indian Molasses Company), that specialises in oil terminals, has also got the approval to sell auto fuels in the country.
It had competed for a discovered small field project during the second bid round to explore and produce oil and gas from India.But IMC could not bag a project. It currently offers liquid storage for multiple ports in the country.IMC is known for storing petroleum products, liquefied gases, petrochemicals, acids, and vegetable oils.
Assam Gas Company
Assam Gas Company, a Government of Assam undertaking primarily engaged in the gas transportation business, has got an approval for fuel retailing.
A ccording to the company’s website, it has a network of underground natural gas trunk and distribution pipelines that serves 400 tea factories, 1,000 commercial establishments, 31,000 domestic consumers, and several big industrial consumers in the districts of Tinsukia, Dibrugarh, Sivasagar, Charaideo, Jorhat, Golaghat, and Cachar in Assam.
Newly Incorporated Onsite Energy
Newly incorporated Onsite Energy has also got an approval for petroleum retailing in India.
MK Agrotech And Manas Agro Industries & Infrastructure
MK Agrotech and Manas Agro Industries & Infrastructure have also got fuel retailing authorisations under the new rules. MK Agrotech is part of a diversified conglomerate with interests across agricultural products, such as sunflower oil, real estate, and crude oil and gas extraction.
Manas Agro has its own brand of liquefied petroleum gas (LPG or cooking gas) and has also collaborated with Essar Petroleum (now Nayara Energy) for supply of ethanol-blended petrol.
These new authorisations were granted to companies with a minimum net worth of Rs 250 crore at the time of making the application.
“They will have to tie up with some large company that has such an existing infrastructure in place. They will have to ride on bigger players,” B S Kanth, former director (marketing) at IndianOil, told Business Standard.