Development follows govt's move to make BPCL shed stake in Assam Accord refinery (as NRL is popularly called). The stake was recently picked up by fellow PSUs Oil India and Engineers India
Firm to create 80,000 jobs by increasing fuel retail outlets, along with Reliance, to 5,500 in 4-5 yrs
In its latest report, the International Energy Agency has said India's annual fuel consumption will decline 5.6 per cent in 2020
The plummeting demand for energy across the board is causing a major headache for the sector will be how to balance its limited storage capacity
India is the world's third-largest energy consumer but the Covid-19 lockdown has shut businesses, suspended flights, stopped trains and brought almost the entire vehicular movement to a halt
The venture is expected to be formed during the first half of 2020; it aims to expand RIL's retail fuel network to 5,500 in 5 years
Transparent pricing regime should be the next step
During this period, India's fuel consumption grew by an average of 3-4 per cent annually