BP and Reliance Industries Ltd. have announced the launch of Reliance BP Mobility Limited (RBML). Following an initial agreement in 2019, BP and RIL have paid R 1 billion to acquire a 49 per cent stake in the joint venture, of which RIL has a 51 per cent stake.
The Geo-BP brand BP’s extensive global experience in different types of fuels, lubricants, retail and advanced low carbon mobility solutions will also be employed here. Over the next 20 years, India will become the world’s largest fuel market. In five years, RBML will expand its fuel retailing network from 1400 retail sites to 5500.
The number of employees at service stations will quadruple from 20,000 to 80,000. Will increase from 30 airports in the country to 45. Sales in retail and aviation fuels will increase. BP has been in India for over a century. Will prepare charging stations for electric vehicles.