BP and Reliance Industries to form a joint venture.

British multinational oil and gas company BP and Indian multinational conglomerate company Reliance Industries agreed to form a joint venture to expand from RIL’s current fuel retailing network of over 1.4k retail sites and 30 aviation fuel stations across India to up to 5.5k retail sites and 45 aviation fuel stations over the next five years. Financial terms were not disclosed. "We are delighted to expand our partnership with BP, one of the global leaders in the fuel-retailing sector. This partnership is a testimony to the strong ties between BP and Reliance. Our robust partnership in developing gas resources in India has now expanded to fuel retailing and aviation fuels. This transformative partnership will deepen our engagement with the consumers in further enhancing the world-class services across the country," Mukesh D. Ambani, RIL, Chairman and Managing Director.