The International Energy Agency expects the South Asian nation to account for a quarter of global energy use by 2040.The new rules would also allow companies to directly sell fuel to industries without setting up retail fuel stations. We want to provide enabling environment to have greater competition,rdquo; said the source.Global players, however, faced difficulties in getting a foothold as they need to commit investment of 20 billion rupees in Indiarsquo;s oil and gas sector to get fuel marketing rights.Companies must set up 5 per cent of proposed retails outlets in rural areas within seven months of winning authorisation, the panel recommends.New Delhi: India is set to relax rules for setting up fuel stations after almost two decades, in a move expected to allow companies like Saudi Aramco, Total and Trafigura to gain a foothold in a sector dominated by state run entities.
The new rules will help trader Trafigurarsquo;s downstream arm Puma Energy, which had applied for a license last year to sell auto fuels in IndiaDIFFICULT TO SURVIVEIndia has emerged as a key driver of global oil demand.This would mean the joint venture of Reliance Industries and BP announced on Tuesday will need a license from the government to start fuel retailing in the country.The new rules suggested by an expert panel mirror those in developed nations like the United States and Britain, and would allow convenience stores, shopping malls and hypermarkets to sell fuels if they are eligible, said an oil ministry source.ldquo;For a new player it is very difficult to survive as the most of the ROs are owned by state run companies.
Companies
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