Sixteen years after India opened the petroleum sector to private players, names like France’s Total, Saudi Aramco, Abu Dhabi National Oil Company and home-grown Adani have started showing interest in putting up retail outlets. This renewed interest comes after Russian government-owned Rosneft bought out Essar Oil and its retail outlets last year and rebranded them as Nayara Energy.
The first wave of private interest saw Essar Oil, Reliance Industries and Shell mark their entry in the sector. However, three companies — Indian Oil Corporation (IOC), Hindustan Petroleum ...
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