LIVE TV
ZEE Business
ZEE BUSINESS
हिंदी में पढ़ें  हिंदी में पढ़ें
Live TV
Live TV
  • Home
  • Budget 2021
  • Personal Finance
    • PPF
    • Mutual Funds
    • Income tax
    • EPFO
    • Income Tax Calculator
    • Personal Loan Calculator
    • Car Loan Calculator
    • Home Loan Calculator
    • SIP calculator
    • SWP Calculator
    • MF Returns Calculator
    • Lumpsum Calculator
  • India
    • Companies
    • Property
    • Startups
    • Uidai
  • Economy
    • Aviation
  • Tech
    • Mobiles
    • Apps
  • Auto
    • Cars
    • Bikes
  • Markets
    • Commodities
    • Currency
  • Jobs
  • Indian Railways
  • World
    • Economy
    • Politics
    • Markets
  • videos
  • photos
  • Authors
  • More ...
    • VIDEOS
    • PHOTOS

Read in App
Business News » India News

Total mulls fuel retailing in India with local parter

  • Twitter
  • Facebook
  • Linkedin
  • whatapp
  • View in App
Updated: Fri, Sep 01, 2017
07:39 pm
PTI
RELATED NEWS
Expert Views: BIG! India's retail inflation eases to 4.59% in December Expert Views: BIG! India's retail inflation eases to 4.59% in December
Budget 2021 Expectations – HOME BUYERS to benefit if Govt accepts this demand; JLL CEO lists following demands Budget 2021 Expectations – HOME BUYERS to benefit if Govt accepts this demand; JLL CEO lists following demands
Jobs, land prices, Covid-19 vaccine, rural India, household savings, NBFCs, banks, consumption, capex - Positives and Negatives | EXPLAINED Jobs, land prices, Covid-19 vaccine, rural India, household savings, NBFCs, banks, consumption, capex - Positives and Negatives | EXPLAINED
Economy, markets, FIIs, chemicals, IT and Pharma - Make money, as India powers to new highs | EXPLAINED    Economy, markets, FIIs, chemicals, IT and Pharma - Make money, as India powers to new highs | EXPLAINED
Setback for China – Trend reversing in favour of India; SFI lands big blow! Know here WHY! Setback for China – Trend reversing in favour of India; SFI lands big blow! Know here WHY!

French oil and gas major Total SA today said it is mulling entering fuel retailing in India in collaboration with a local partner.

"It's a big market with big players like Indian Oil and others having thousands of retail stations. It has been recently deregulated. Obviously we are thinking about it," Total CEO Patrick Pouyanne said at an industry event here.

"I think India for us is also a matter of finding the right Indian partners," he said, adding that Total has to find the right partner to do fuel retailing business.

Pouyanne further said: "It's not because we are large international company and we can do very well, we have the money, the financial capacities, we have the expertise in many of these businesses, but I think it is also to understand the local ways of making business and in India we have specifics...

"So, yes we have an interest, but we have to find the right partner to do the local business like most of peers have done as well."

Earlier, after meeting Oil Minister Dharmendra Pradhan, he said Total plans to invest in expanding LPG infrastructure in India, including boosting storage capacity, import terminals and distribution network.

The firm sells lubricants and LPG in India. It had in 1998 commissioned a fully integrated LPG import terminal at Mangalore. It also has a minority stake in LNG import terminal at Hazira in Gujarat.

Pouyanne said India's growing energy market, especially LPG, LNG and renewables, were attractive for investments for Total.

"Met the Chairman & CEO, @Total S.A., Mr.Patrick Pouyanne and his team. Assured to extend all possible support," Pradhan tweeted.

He said he encouraged Total to invest in infrastructure, gas pipelines, LNG terminals and petrochemicals business in India.

"Welcomed the valuable partnership between @Total & our #OMCs in the areas of LPG, LNG, Gas infrastructure & renewable energies," Pradhan said in another tweet.

The liquefied natural gas (LNG), Pouyanne said, is a good market in India. "We are already in Hazira. We are trying to see if we can expand," he said, adding that there are "plenty of terminals" in Gujarat.

Besides the 5 million tonnes a year Hazira import facility, Petronet LNG Ltd operates a 15 MT terminal at Dahej and Gujarat State Petroleum Corp (GSPC) is building a 5 MT terminal at Mundra in the state.

"We are among the top 3 leading companies in the LNG business, to bring more gas in the LNG terminals. Many terminals are being built. We are already partners in Hazira terminal, we can also develop the gas market in India," he said.

There are "too many (LNG terminals) in Gujarat", he said.

Royal Dutch Shell owns 74 per cent stake in Hazira LNG terminal while Total has the remaining 26 per cent.

"India is a growing market - LPG, LNG and even renewables as well," he said. "We are looking at expanding in LPG -- LPG plants, networks, we already have a (LPG) cavern (and are looking at) expanding storage capacity, import terminals -- all the infrastructure that is necessary to expand the LPG business."

He however did not give investment details saying "we have some plans".

"We are already importing LPG...we are also a big trading company," he said.

 

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)

Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.

TAGS:
Economy
RELATED NEWS
Expert Views: BIG! India's retail inflation eases to 4.59% in December Expert Views: BIG! India's retail inflation eases to 4.59% in December
Budget 2021 Expectations – HOME BUYERS to benefit if Govt accepts this demand; JLL CEO lists following demands Budget 2021 Expectations – HOME BUYERS to benefit if Govt accepts this demand; JLL CEO lists following demands
Jobs, land prices, Covid-19 vaccine, rural India, household savings, NBFCs, banks, consumption, capex - Positives and Negatives | EXPLAINED Jobs, land prices, Covid-19 vaccine, rural India, household savings, NBFCs, banks, consumption, capex - Positives and Negatives | EXPLAINED
Economy, markets, FIIs, chemicals, IT and Pharma - Make money, as India powers to new highs | EXPLAINED    Economy, markets, FIIs, chemicals, IT and Pharma - Make money, as India powers to new highs | EXPLAINED
Setback for China – Trend reversing in favour of India; SFI lands big blow! Know here WHY! Setback for China – Trend reversing in favour of India; SFI lands big blow! Know here WHY!

LATEST NEWS

Motor premium growth helps general insurers log 10 pc growth in Q3: Report

Mid-Cap Stock Picks with Anil Singhvi: Titagarh Wagons, JSW Energy and Praj Industries are top Ambareesh Baliga recommendations today

Budget 2021 Markets Want More: In chat with Anil Singhvi, Anand Rathi Co-founder unveils this money making strategy

Sensex crashes 746 pts as profit-taking deepens; posts weekly loss

M&M would list 8 of 10 growth champs in next three years: Dr. Anish Shah, Deputy MD and Group CFO

7th Pay Commission Latest News Today 2021: Big 7th CPC announcement for central government employees; Modi government unveils this

Stocks in Focus on January 22: Indigo Paints IPO, Biocon, Indian Energy Exchange, InfoEdge to Asian Paints; here are the 5 Newsmakers of the Day

Gold, Rupee and Equity Markets Outlook II Details explained by ICICI Securities

Actress Priyanka Chopra shares a secret about her late night talk show appearances

LG K42 price, features, specifications here | Important freebies, warranty, unique details here

  • India News
  • World News
  • Companies News
  • Market News
  • Personal Finance News
  • Technology News
  • Automobile News
  • Small Business News
  • Income Tax Calculator
  • Live TV
  • Videos
  • Photos
  • Author
  • Rss Feed
  • Advertise with us
  • Privacy Policy
  • Legal Disclaimer

Latest Trending Updates

  • EPFO
  • Budget 2020
  • Income Tax Return
  • Auto Expo 2020
  • Home Loan
  • Business News

Trending Topics

  • Income Tax
  • income Tax Calculator
  • 7th Pay Commission
  • Reserve Bank of India
  • GST
  • Latest Business News

Follow us on

zeebiz
zeebiz

Partner Sites

  • Zee News
  • Hindi News
  • Marathi News
  • Bengali News
  • Tamil News
  • Malayalam News
  • Gujarati News
  • Telugu News
  • Kannada News
  • DNA
  • WION
Copyright © Zee Media Corporation Ltd. All rights reserved