October 23, 2019 / 11:19 AM / 25 days ago

India eases rules for entry into fuel retail sector -minister

NEW DELHI, Oct 23 (Reuters) - India’s cabinet on Wednesday relaxed norms for setting up fuel stations in the country, the information and broadcasting minister said, a move that could help private and foreign firms to enter a sector dominated by state-owned companies.

The new rules will allow companies to set up electric vehicle charging stations, and sell gas, petrol and diesel at their pumps, Prakash Javadekar told a news conference.

“Companies would be able to sell all sorts of transportation fuels at their petrol pumps,” Javadekar said.

Global oil companies including Saudi Aramco, Trafigura’s downstream arm Puma Energy and France’s Total are interested in setting up fuel stations in India, where fuel demand is expected to rise in the years to come.

Reporting by Nidhi Verma; Editing by Sanjeev Miglani

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