OIL & GAS

Modi govt eases rules for private firms to sell petrol, diesel; check eligibility, net worth required, etc

According to the new guidelines, the applications can be submitted directly to the ministry. Along with the private sector, foreign players can too avail the authorisation for bulk and retail marketing of petrol and diesel. The government’s effort is aimed at encouraging dispensing of alternate fuels and augmentation of retail networks in remote areas and ensuring high levels of customer service.

So far, the retail marketing of petroleum products in India is done by the PSU oil marketing companies (OMCs), which are Indian Oil Corporation Ltd (IOCL), Hindustan Petroleum Corporation Ltd (HPCL), Bharat Petroleum Corporation Ltd (BPCL), Numaligarh Refinery Ltd (NRL), Mangalore Refinery & Petrochemicals Ltd (MRPL), Bharat Oman Refineries Ltd (BORL)

Source
financial express
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