Ambani, Adani partner to use each other's fuel networks

By Rakesh Sharma

Billionaires Mukesh Ambani and Gautam Adani have joined hands to sell transportation fuels using their respective groups’ retail stations across India.

Reliance Industries’s Jio-bp venture will set up gasoline and diesel dispensers at CNG retail outlets of Adani Total Gas Ltd., according to a joint statement on Wednesday. Similarly, the Adani group and TotalEnergies JV will put up CNG dispensing units at Jio-bp’s fuel pumps. The agreement will cover both groups’ existing as well as future outlets.

This is the second business collaboration between the billionaires’ groups, after Reliance bought a 26 per cent stake in a 500 MW power project of Adani. The partnership may intensify competition in India’s fuel retailing space dominated by the state-owned companies, which still account for about 90 per cent of the 97,000 retail gasoline and diesel outlets in the country.

“This partnership will enable us to leverage each other’s infrastructure, thus enhancing customer experience and offerings,” Suresh P Manglani, chief executive officer with Adani Total Gas said.

Jio-bp has a network of 2,000 outlets for selling petroleum products. The company also offers electric vehicles charging at some of these and runs convenience stores. Adani Total operates 650 CNG stations nationwide, and also offers compressed biogas, EV charging and LNG for transportation.