
Ambani, Adani partner to use each other's fuel networks
Reliance Industries's Jio-bp venture will set up gasoline and diesel dispensers at CNG retail outlets of Adani Total Gas Ltd., according to a joint statement on Wednesday. Similarly, the Adani group and TotalEnergies JV will put up CNG dispensing units at Jio-bp's fuel pumps.

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles

Business Standard
32 minutes ago
- Business Standard
Shell in early talks to acquire London-based oil rival BP: Reports
BP is under intense pressure after years of under-performance and the intervention of aggressive activist shareholder Elliott Investment Management Bloomberg Royal Dutch Shell Plc is in early talks to acquire BP Plc, which is considering the approach carefully, the Wall Street Journal reported. Shares of BP traded in New York jumped as much as 10% to $32.94. BP is under intense pressure after years of under-performance and the intervention of aggressive activist shareholder Elliott Investment Management. Speculation has been growing that the London-based company would become a takeover target, and Bloomberg reported in May that Shell had been studying the merits of a deal. A successful combination of Shell and BP would become one of the oil industry's largest-ever takeovers, bringing together the iconic British majors in a transaction that's been discussed on and off for decades. The companies were once close rivals — with a similar size, reach and global clout — but their paths have diverged in recent years after BP moved too quickly into low-carbon energy.


Time of India
an hour ago
- Time of India
All Reliance top leaders have to follow this one rule, even boss Mukesh Ambani. What does brain research say about it?
In a rare insight into Reliance Industries ' leadership philosophy, Chairman Mukesh Ambani has shared the one rule that he expects every top executive in his organisation to follow—maintaining eye contact. The simple yet powerful practice, which Ambani has adhered to for over four decades, has been embedded into the corporate culture of Reliance Industries. Backed by neuroscience, this rule is more than symbolic. It is seen as a tool for building trust, sincerity, and accountability within leadership. A Cultural Principle Rooted in Sincerity During a conversation with McKinsey & Company, Ambani explained how the 'eye contact' rule has evolved into an unspoken expectation across Reliance's leadership ranks. He said that since the early years of his career, he had made a conscious decision to always look employees directly in the eye. This, according to him, is a gesture that conveys honesty and alignment with the company's values. He further noted that leaders at Reliance are encouraged to practice this principle, not just as a formality, but as a reflection of their sincerity. Being able to look colleagues and subordinates in the eye without hesitation is, in his words, a sign that there is nothing to hide or feel ashamed of. Ambani described this behavioural expectation as a pillar of Reliance's institutional culture. He believes it functions as a kind of insurance—an internal check that keeps the leadership accountable and grounded. Backed by Brain Science Interestingly, Ambani's belief in eye contact as a cornerstone of leadership is supported by neurological research. A study by the National Institutes of Health (NIH) explored the effects of eye contact during verbal communication using functional MRI scans. The research revealed that when individuals maintain eye contact while listening to someone speak, several important regions of the brain become active. These include the cuneus and calcarine sulcus in the visual cortex, which are linked to visual processing, as well as areas like the medial prefrontal cortex and temporoparietal junction, which are associated with interpreting others' intentions and emotions—an essential part of leadership and interpersonal dynamics. Additionally, the study found heightened connectivity between these regions during eye contact, indicating a stronger engagement in understanding the speaker's intent. In leadership settings, this can translate into deeper communication, better empathy, and improved decision-making. Leadership Beyond Business The interview also touched upon what Ambani considers the biggest risk of his career—launching Reliance Jio in 2016. Despite warnings from financial analysts about possible failure, Ambani believed the project's potential to digitally empower India outweighed the financial risks. Even if it hadn't earned returns, he said it would still have counted as the greatest philanthropic contribution by Reliance.

Mint
2 hours ago
- Mint
Ambani and Adani join hands to sell transportation fuel together
Mumbai: Adani Total Gas Ltd and Reliance Industries Ltd arm Jio-bp have partnered to sell auto fuel across select outlets, the companies said in a statement on Wednesday. Select ATGL outlets will sell Jio-bp's petrol and diesel, and the Jio-bp outlets will integrate ATGL's compressed natural gas (CNG) dispensing units, the statement said. 'This partnership will enable us to leverage each other's infrastructure, thus enhancing customer experience and offerings,' said Suresh P. Manglani, executive director and CEO of Adani Total Gas. This is the second time the rival billionaires have partnered, after Reliance acquired a 26% stake in an Adani Power project in Madhya Pradesh in March 2024. 'We are united by a shared vision to offer our customers a superior selection of high-quality fuels,' said Sarthak Behuria, chairman of Jio-bp. Nirav Karkera, the head of research at Fisdom, said, 'The collaboration between RIL and the Adani Group is expected to be highly synergistic, offering significant operating leverage through their combined physical presence. By providing complementary products, the partnership aims to deliver a more comprehensive customer experience. In a sector largely dominated by state-run entities, this alliance positions both groups advantageously.' The agreement covers the partners' existing and future outlets. Adani Total Gas has 650 CNG operating stations, and Jio-bp has 2,000 outlets. 'ATGL stands to benefit from the extensive Jio-BP fuel station network, while Jio-BP can expand its pincode-level reach through ATGL's infrastructure in a cost-efficient manner. The partnership is likely to be accretive for both players, enabling better margin management through station-level cost synergies,' said Karkera. Adani Total Gas is a joint venture between Adani Group and French multinational Total Energies. The company distributes natural gas to households, industries, commercial customers, and motorists. It also offers compressed biogas, electric vehicle charging, and liquefied natural gas (LNG) for the transport segment. Jio-bp, a joint venture between Reliance Industries and bp, is a mobility solutions provider in India, with a presence in fuel retailing and low-carbon alternatives. India's natural gas demand is forecast to increase by nearly 60% by 2030, driven by robust growth in city gas distribution, industrial demand and power generation, as per the International Energy Agency's latest reports. In their 2023-30 forecast period, India is projected to account for a third of global oil demand growth. Indian standalone refiners are poised to benefit meaningfully in the first quarter of FY26 as global product cracks, especially diesel and aviation turbine fuel (ATF), have surged following escalating geopolitical tensions in the Middle East, according to a June Yes Securities report. Reliance shares closed 1.2% higher at ₹ 1,467.30, and Adani Total Gas closed at ₹ 634.15 on the National Stock Exchange on Wednesday.