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Oil Companies Plans To Allot 65,000 Petrol Pump Before Elections

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State-owned oil companies are planning to allot about 65,000 petrol pumps across the country ahead of 2019 general elections in order to expand the existing retail network to double.

An advertisement was issued by  Bharat Petroleum Corp Ltd (BPCL), Hindustan Petroleum Corp Ltd (HPCL) and Indian Oil Corp (IOC) on Sunday for setting up 55,649 petrol pumps across the country.

HPCL’s state-level coordinator Vishal Bajpai told reporters that any sites in poll-bound states (Rajasthan, Madhya Pradesh, Chhattisgarh, Telangana and Mizoram) are not included. Advertisement for sites in these states would be issued after polling is completed.

IOC is planning to add 26,982 more petrol pumps, BPCL is eyeing on adding 15,802 outlets whereas HPCL will add 12,865 petrol pumps in states that are not going to polls. across the country. IOC currently has 27,377 petrol pumps, BPCL total count stands at 14,592 meanwhile HPCL has a tally of 15,287 outlets.

Bajpai said that the allotments will be done on the basis of relaxed guidelines, such as lowered educational qualification from 12th pass and graduate to currently 10th pass and the only essential requirement is ownership of the land where the pump is to be set up.

Read EquityPandit’s Crude Oil Outlook for the Week

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