GOVERNMENT GRANTED LICENCE TO SET- UP BP PETROL PUMPS IN INDIA.

THE GOVERNMENT HAS FORMALLY GRANTED A LICENCE ON OCTOBER 16, 2016 TO BP, EUROPE`S THIRD-BIGGEST OIL COMPANY, TO SET-UP 3500 PETROL PUMPS IN INDIA.IT IS A UK-BASED FIRM. BP GRANTED LICENCE TO MARKET MOTOR SPIRIT [PETROL] AND HIGH SPEED DIESEL [DIESEL] -ANOTHER MILESTONE FOR BP IN INDIA. INDIA CURRENTLY HAS ABOUT 56190 PETROL PUMPS, WITH PUBLIC SECTOR FIRMS OPERATING A MAJORITY OF THEM. PRIVATE SECTOR OPERATORS ARE LIMITED TO ESSAR OIL AND RELIANCE INDUSTREIES, WHO BETWEEN THEM HAVE SOME 3500 PETROL PUMPS, ROYAL DUTCH SHELL OPERATES 82 PETROL STATIONS. STATE- OWENED INDIAN OIL CORP [IOC] OWNS 25363 PETROL PUMPS, HINDUSTAN PETROLEUM CORP LIMITED [HPCL] 13802 STATIONS AND BHARAT PETROLEUM CORP LIMITED [BPCL] 13439 OUTLETS.