Oil companies to come up with more Retail outlets in the region

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Oil companies to come up with more Retail outlets in the region : Oil companies today got together and announced they would be augmenting their retail outlet network in the region to meet the growing demand.

Oil companies to come up with more Retail outlets in the region

Mr. Sandeep Jain, Chief General Manager I/c , Punjab State Office , & State-Level-Co-ordinator, Oil Industry  (Punjab State), said, “For a fast growing economy like ours, energy needs are growing manifold. PSU Oil Marketing Companies (OMCs – BPCL, HPCL & IOCL) are undertaking Retail Outlet (Petrol Pump) network expansion in tandem with the growth in demand of Petrol and Diesel. Retail sales of Petrol and Diesel are increasing at the rate of approximately 8% and 4% p.a. respectively.”

Mr. Jain further explained, expansion of retail outlet network (Petrol Pumps) is undertaken by Oil Marketing Companies primarily to meet the growing fuel needs and convenience of customers in emerging markets like upcoming highways, agricultural pockets and industrial hubs. The Retail Outlet network in Rural, remote and far-flung areas are also being expanded with the intention of reaching product, predominantly HSD, ensuring quality and correct price to meet the rural agricultural demand and people living in remote areas.

Additionally, the expansion of Retail outlet network is expected to generate employment opportunities also, Mr Jain added. Further in UT Chandigarh, 1 outlet is proposed to be set by IOCL.

Status of Locations in Punjab State:

Oil Co Regular Retail Outlet Numbers Rural Retail Outlet Numbers Total Number
IOCL 891 966 1857
BPCL 314 128 442
HPCL 379 62 441
Total 1584 1156 2740

Mr. Jain said, Oil Marketing Companies have invited applications from prospective candidates for setting up of Petrol pumps.

He said, The process of Dealer selection has been simplified in line the Government’s emphasis on “Ease of doing business”. User friendly On-line application has been introduced. The application form has also been simplified. The rigmarole of submitting voluminous documents by the applicants, in support of eligibility, has been dispensed with. Only the selected candidate would be required to produce the documents. Similarly, the eligibility norms have also been relaxed.

Availability of suitable land at the advertised location/stretch is the most important requirement. Applicants without land can also apply, however, they are expected to offer land when called for, informed Mr. Jain.

For the first time, computerized “Draw of Lots”/”Bid opening” would be held under the aegis of an independent agency to bring in more transparency. All Retail outlets will be constructed with latest technology including automation.

Retail outlet dealership provides very good opportunity to the entrepreneurs and also to associate with Fortune 500 companies.

Interested entrepreneurs may see the detailed advertisement and Brochure available in our website www.petrolpumpdealerchayan.in.