Reliance Industries to reopen petrol outlets in the country

Reliance Industries to reopen petrol outlets in the country

Reliance Industries has announced that they are planning to reopen their petrol pumps that were shut down around the country.

Market sources say that the company is considering a collaboration with Indian Oil Corporation.

This partnership could see them renting or selling some of the pumps to the government owned body.

A market source said: “The company had invested about Rs 5,000 crore in setting up the retail network and it does not make sense for it to keep them idle”.

RIL had shut down most of their petrol pumps operating in the country last year as they could not sell the fuel profitably.

Indian government subsidize the petrol/diesel sold at pumps operated by state owned oil companies.