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Reliance BP Mobility Limited

Company Summary

Description

Joint venture between Reliance Industries (51%) and BP (49%) which will focus on growing the firms Indian fuels and mobility business.  

Operating under the “Jio-bp” brand, the joint venture aims to become a leading player in India's fuels and mobility markets. It will leverage Reliance’s presence across 21 states and its millions of consumers through the Jio digital platform. bp will bring its extensive global experience in high quality differentiated fuels, lubricants, retail and advanced low carbon mobility solutions

Website

https://www.bp.com/content/dam/bp/business-sites/e...

Operational Regions

  • Asia

Related Entities

Recent news

  • 7/9/2020 - BP & Reliance Industries... (subscriber access)

Company Transactions

Date: 7/9/2020
Type: Joint Venture

BUYERS:
  • BP PLC
    • SELLERS:
  • Reliance Industries Ltd
  • Reliance BP Mobility Limited
    • DETAILS:

    COST: 1 $B

    NOTES:
    BP and Reliance Industries have kicked off their new Indian fuels and mobility JV, Reliance BP Mobility Limited. The agreement was initially signed in 2019, with BP paying Reliance $1 billion for a 49% stake in the JV. The firm is aiming to become a leader across India's fuels markets, with the press release citing that India "is expected to be the fastest-growing fuels market in the world over the next 20 years." They will expand their fuel network from 1,400 retail stores to up to 5,500 within the next five years, along with other expansions in the nation.
    REGIONS:
  • Asia