Reliance Industries / BP joint venture

16/12/2019
Joint venture

Re 70 billion

$ 984.174 million

Announced

16/12/2019


Overview:

  • Indian multinational conglomerate Reliance Industries and multinational oil and gas company BP aim to enter into a joint venture to own Reliance’s existing petroleum retail marketing business and operate its aviation fuel business.
  • The parties intend to expand these businesses from the existing 1,400 retail outlets and 30 aviation fuel stations and operate them under joint branding, Jio-BP.
  • Reliance will receive Rs70 billion from BP for acquiring a 49% stake in the joint venture.
  • This mandate marks the third joint venture between the two companies since 2011.

Shah Shameer Ahmed - Researcher

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