AP Worldstream: Report: Oil giant Shell to start retailing petrol, diesel in India by the year end: “After India deregulated its oil sector in April 2002, Shell obtained the government's license to build 2,000 oil gasoline stations in the country. All those wanting to enter the country's US$15 billion-a-year oil retail market have to meet government requirements, including a minimum 20-billion-rupee (US$435 million) investment in the country's petroleum sector.” (ShellNews.net) 10 Nov 04
Global energy giant Royal Dutch/Shell plans to start retailing petrol and diesel in India toward the end of the year, a news report said Wednesday.
"I cannot give you numbers but we certainly will start several petrol pumps by the year end," Press Trust of India quoted Vikram Singh Mehta, the chairman of Shell's Indian operations, as saying.
Mehta also said the company will begin importing liquefied natural gas for its proposed 5 million metric-ton-a-year LNG import terminal at Hazira in western India in the first quarter of 2005.
"The terminal would be ready by December end. LNG imports would begin sometime in the first quarter of 2005 after we conduct a thorough testing of the terminal," Mehta said.
Shell is looking to sell gas to major power producers, fertilizer and ceramic industries located along the coast of the western states of Gujarat and Maharashtra that are easily accessible from Shell's LNG import terminal.
After India deregulated its oil sector in April 2002, Shell obtained the government's license to build 2,000 oil gasoline stations in the country. All those wanting to enter the country's US$15 billion-a-year oil retail market have to meet government requirements, including a minimum 20-billion-rupee (US$435 million) investment in the country's petroleum sector.
Until now, state-run oil companies have a near monopoly in the India's oil retail business, which is expanding at more than 5 percent a year. Reliance Energy Ltd., India' largest private oil refiner, began retailing petrol and diesel earlier this year.