In a major development in India’s private retail energy sector, Adani Total and Jio BP have partnered to integrate each other’s energy products at their retail outlets. According to an Adani Total Gas statement, while Adani Total Gas outlets will offer Jio BP’s petrol and diesel at their outlets, Jio BP will integrate Adani Total Gas’s CNG dispensing units at their outlets.
The partnership is expected to help both companies leverage synergy in the retail energy sector, as the two companies have a vast network of retail outlets across the country. Adani Total Gas, a joint venture of Adani Group and French energy giant Total Energies, has a network of 650 CNG stations across India, while Jio BP, a joint venture of Reliance Industries and British energy conglomerate BP, has about 2000 diesel and petrol stations.
ALSO READAnil Ambani owned Reliance Infra bags Rs 600 crore export order from Germany’s Rheinmetall
According to the agreement, the two companies will collaborate to cover all current and future outlets of the two companies.
Adani Total Gas, Jio-BP partnership: Why is it important?
India’s retail energy sector has long been dominated by public sector companies like Indian Oil and Bharat Petroleum, having an 80 to 90 percent market share. For some time, private companies like Reliance, Nayara Energy, Adani, and Shell have been trying to increase their distribution but have seen limited success. The partnership between Jio BP and Adani Total will bring the resources of the two biggest private energy companies together, increasing their market dominance.
Sarthak Behuria, Chairman, Jio-BP, said in a statement that the two companies are united by a shared vision to offer our customers a superior selection of high-quality fuels.
“This partnership will enable us to leverage each other’s infrastructure, thus enhancing customer experience and offerings”, Suresh P Manglani, Executive Director and Chief Executive Officer, Adani Total Gas, said in a statement.
» Read More
