Sunday, August 05, 2007

RIL gets ministry rap for oil retail delay

The petroleum ministry has rapped Reliance Industries for failing to meet its obligations of opening and operating 10 per cent of its petrol and diesel retail outlets in remote and low-service areas.
In its reply to a recent ministry communication to this effect, the company has said that this was because of the government control on prices of auto fuels resulting in losses from the overall fuel retailing business.
RIL, along with private sector companies, Shell and Essar, was given permission to retail automobile fuels in the country in 2002. RIL’s plan was to open almost 5,000 retail outlets across the country, but the company has so far opened around 1,800 retail outlets.

Read more in Business Standard