Govt to provide licenses for fuel marketing
With the aim to attract foreign energy giants like Saudi Aramco, Total and Trafigura and supermarket chains, the government is planning to restructure fuel marketing in the country. The Ministry of Petroleum and Natural Gas is preparing to do away with the rule restricting the licence to market petrol, diesel and jet fuel to companies that have invested or propose to invest Rs 2,000 crore in exploration and production, refining, pipelines or terminals in India, according to sources. This move is in line with a recent panel report (May’19), which wants firms to seek separate licences for retail and bulk businesses. It also recommended companies with licence to set up at least 100 retail outlets, of which at least 5% should be in notified remote areas, within 7 years of obtaining the licence.