Now Reliance Industries set to deliver fuel at your doorstep Posted on 30th June 2017 |
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| At a time when the ministry of petroleum and natural g4as is exploring ways to start home delivery of petroleum products such as diesel and petrol, Reliance Industries (RIL) is looking to enter the segment as well. According to three people close to development who requested not to be named, RIL has applied for a licence to home-deliver motor fuel to the Petroleum and Explosives Safety Organisation (PESO). However, though the company has been allowed to use bowsers to transport fuel to its mobile phone towers, it has not been granted licence for fuel home delivery as of now. Reliance operates a mobile phone network under the brand Jio. An email sent to a RIL spokesperson on Tuesday, followed by text messages, remained unanswered. On April 21 this year, petroleum minister Dharmendra Pradhan had tweeted the petroleum ministry was exploring ways to start home delivery of petroleum products. However, as reported by FE, stakeholders including the PESO, raised concerns about safety requirements regarding the programme at a meeting. PESO is the organisation entrusted with the duty to ensure safety of public and property with regards to distribution and storage of petroleum products. According to one of the persons mentioned above, home delivery of petroleum products is not allowed anywhere across the world as it is a risky affair. However, since there is a push by the government to explore the opportunities state-run Indian Oil Corporation has been asked to look for methods for trial, added the person. RIL is looking to expand its motor fuel retail business. According to its annual report for However, since there is a push by the government to explore the opportunities state-run Indian Oil Corporation has been asked to look for methods for trial, added the person. RIL is looking to expand its motor fuel retail business. According to its annual report for 2016-17 the company has 1,221 operational outlets. “RIL’s fuel outlets registered significant volume growth with year-end exit throughput more than double the industry average, highlighting the superior customer experience and value added offerings,” the report noted. The company is looking to have a pan-India presence in the segment through expansion of its network in unrepresented and new markets. However, according to a second person mentioned above, the challenge it faces is that the state-run oil marketing companies (OMCs) already occupy the best locations across the country. The country has a total of 59,500 retail outlets of which almost 95% are run by OMCs. The second person added that home delivery of motor fuel is one of the ways through which the company can establish its presence in areas already occupied by other operators. Earlier, Bengaluru-based ANB Fuels under the brand name MyPetrolPump had started home delivery of diesel in parts of the city through customised The second person added that home delivery of motor fuel is one of the ways through which the company can establish its presence in areas already occupied by other operators. Earlier, Bengaluru-based ANB Fuels under the brand name MyPetrolPump had started home delivery of diesel in parts of the city through customised bowsers. However, PESO directed fuel retail outlets to not sell diesel to the company citing safety concerns. As per a right to information (RTI) filed by Ghaziabad-based Tikendra Kumar last year, currently there is no government policy on home delivering petrol or diesel for vehicles. FE has reviewed a copy of the RTI. A PESO official refused to comment on being asked if the authorities are thinking of changing the rules regarding storage and transportation of fuel. According to current rules, there is no requirement of A PESO official refused to comment on being asked if the authorities are thinking of changing the rules regarding storage and transportation of fuel. According to current rules, there is no requirement of licence for transport or storage of petroleum class B (non-bulk) in quantity not exceeding 2,500 litres and in receptacle not exceeding 1,000 litres. Class B petroleum includes diesel but not petrol. |
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Bharti Airtel defers Q2 results till Nov 14 over ambiguity on AGR verdict Posted on 29th October 2019 |
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Bharti Airtel said on Tuesday it has postponed its second-quarter earnings report to mid-November, as the wireless operator sought clarity on the court ruling asking telecom firms to cough up overdue payments to the government.
Shares of the company, which was expected to release its quarterly numbers later in the day, dropped 3.3 per cent in early trade. |
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Rupee slips 8 paise vs US dollar in early trade amid drop in oil prices Posted on 7th October 2019 |
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The rupee on Monday opened eight paise lower at 70.96 against the US dollar amid drop in crude oil prices and rise in Asian equities. The domestic unit on Friday closed almost flat at 70.88 against after the Reserve Bank of India (RBI) in a widely expected move cut key interest rates by 0.25 percentage point. On a weekly basis, the local unit slumped by 32 paise. |
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LIC pips private insurers in first-year premium growth during April-August Posted on 13th September 2019 |
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In the first five months of the current financial year, first-year premiums of life insurance companies grew by 39.84% (year-on-year) at Rs 1.05 lakh crore as compared to Rs 75,588.35 crore in April-August of 2018-19. Life Insurance Corporation of India (LIC) continued to grow at a faster pace compared to private insurance players, shows the data from the Insurance Regulatory and Development Authority of India (Irdai). |
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Apollo Hospitals rules out further stake sale Posted on 13th September 2019 |
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Apollo Hospitals Enterprise (AHEL) has ruled out further dilution of promoters’ stake in the company. The company also said its Rs 1,337-crore stake sale of Apollo Munich Health Insurance with mortgage major HDFC will be concluded by October. Following these stake sales, the promoters’ pledged position will come down from a high of 76% to 54% by October and eventually to 20% by November or December, company sources said here. |
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World trusts India on Kashmir, not us: Pakistan minister Ijaz Ahmed Shah Posted on 13th September 2019 |
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In a major embarrassment for Pakistan and its Prime Minister Imran Khan, the country's Interior Minister Ijaz Ahmed Shah, a retired brigadier, said the international community didn't believe Pakistan's narrative on Kashmir; instead it is India whose version is trusted. |
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