BP gets licence to set up petrol pumps in India

NEW DELHI: The government has formally granted a licence to BP Plc, Europe's third-biggest oil company, to set up 3,500 petrol pumps in India, making it the 10th company to enter the lucrative fuel retailing sector.

The company was granted a formal licence on October 14. “BP granted licence to market petrol and diesel — another milestone for BP in India,” the company tweeted.

The UK-based company was given approval by the oil ministry to retail petrol and diesel, sources said.

“A significant step in BP's partnership with India — been granted licence to market motor spirit and high speed diesel,” it said.