Jio-BP opens first pump in Mumbai
NEW DELHI: A joint venture of billionaire Mukesh Ambani’s Reliance Industries Ltd (RIL) and energy supermajor BP on Tuesday announced the opening of their first petrol pump that offers multiple fuel choices, including EV charging infrastructure.
Reliance BP Mobility Ltd (RBML) launched its first Jio-BP branded Mobility Station at Navde, Navi Mumbai, the two firms said in a joint statement.
“Working in a challenging pandemic-affected environment, Jio-BP is bringing a network of world-class Mobility Stations offering multiple fuelling choices to the customers,” it said.
The firms said Jio-BP will provide an unmatched and distinctive customer experience.
In 2019, BP had bought a 49% stake in over 1,400 petrol pumps and 31 aviation turbine fuel (ATF) stations owned by Reliance for $1 billion.
The existing petrol pumps of Reliance have since been transferred to the joint venture, which plans to scale them up to 5,500 by 2025.
Reliance holds the remaining 51% stake in RBML. RBML has already received the marketing authorisation for transportation fuels.
India’s auto fuel retailing is dominated by public sector oil companies that own the majority of 78,751 petrol pumps in the country. RBML has 1,427 outlets while Rosneft-backed Nayara Energy has 6,250 pumps. Shell has 285 petrol pumps.
“The existing network of over 1,400 fuel pumps will be rebranded as Jio-bp, presenting a new range of customer value propositions over the coming months,” the statement said.
India’s market for fuels and mobility is rapidly growing. It is expected to be the fastest-growing fuels market in the world over the next 20 years.
“Jio-bp Mobility Stations are designed to help meet this growing demand and are ideally located to suit customer convenience. They bring together a range of services for consumers on the move—including additivised fuels, EV charging, refreshments & food, and plan to offer more low carbon solutions over time,” it said.
The joint venture plans to leverage Reliance’s vast presence and deep experience in consumer businesses across India, with its hundreds of millions of customers in Jio and Reliance Retail, and BP’s extensive global experience in highquality differentiated fuels, lubricants, convenience and advanced low carbon mobility solutions.
“Instead of regular fuels, Jio-BP Mobility Stations across the country will offer additivised fuel, at no extra cost. The fuel offering will contain internationally developed ‘ACTIVE’ technology, which forms a protective layer on critical engine parts to help keep the engines clean,” the statement said.