Latest news with #SarthakBehuria
Mint
4 hours ago
- Automotive
- 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.
The Hindu
7 hours ago
- Automotive
- The Hindu
Adani, Reliance units tie up to combine fuel retail network strength
Adani Total Gas Ltd. (ATGL) and Jio-bp, the operating brand of Reliance BP Mobility Ltd., have announced the signing of an agreement to for combining their strengths in auto fuel retail in India. Under this agreement, select ATGL fuel outlets will offer Jio-bp's high-performance liquid fuels (petrol and diesel), while select Jio-bp fuel outlets will integrate ATGL's CNG dispensing units, within ATGL's authorised Geographical Areas (GA), thus enhancing the supply of high-quality fuels to transport consumers. ATGL, a joint venture of Adani and TotalEnergies is into city gas distribution (CGD) and provides natural gas to households, industries, commercial customers, and motorists. It also offers Compressed Biogas (CBG), EV Charging, and LNG for the transportation segment. Jio-bp, a joint venture between Reliance Industries Ltd. and bp, is into fuel retailing, low-carbon alternatives, and modern convenience stores. 'We are united by a shared vision to offer our customers a superior selection of high-quality fuels. Jio-bp has always been committed to delivering an exceptional customer experience, and this partnership allows us to leverage each other's strengths to further enhance the value we provide to India,' said Sarthak Behuria, Chairman, Jio-bp. 'It is our shared vision to provide complete range of high-quality fuels at our outlets. This partnership will enable us to leverage each other's infrastructure, thus enhancing customer experience and offerings,' said Suresh P. Manglani, Executive Director & CEO, Adani Total Gas Ltd. The agreement covers both existing and future outlets of both parties. ATGL currently operates a network of 650 CNG stations, while Jio-bp has a network of 2000 outlets.
India Today
9 hours ago
- Automotive
- India Today
Adani Total Gas and Jio-bp partner to expand fuel access across India
Two of India's major private energy players, Adani and Reliance, have come together once again, this time to offer their fuels at each other's fuel stations. The move is expected to boost access to high-quality fuel for vehicle owners across the Total Gas Ltd. (ATGL), which supplies natural gas, and Jio-bp, the fuel retailing arm of Reliance BP Mobility, announced their new partnership on June 25. According to ATGL's statement, the collaboration will see Jio-bp's premium petrol and diesel sold at select Adani fuel outlets. In return, some Jio-bp outlets will offer CNG through ATGL's dispensing P Manglani, Executive Director and CEO of Adani Total Gas, said the partnership would allow both companies to make use of each other's infrastructure, helping to improve customer experience and broaden service offerings. Meanwhile, Sarthak Behuria, Chairman of Jio-bp, said the partnership would help both companies combine their strengths to deliver greater value to Indian deal will cover both current and future outlets of the two companies. It will also help improve fuel availability in areas where Adani or Jio-bp already a joint venture between Adani and France's TotalEnergies, currently runs close to 650 CNG stations. It also supplies gas to homes, businesses, and industries, and is expanding into areas like biogas, EV charging and LNG for which is backed by Reliance Industries and bp, operates about 2,000 fuel stations in India. The company is working to provide cleaner fuels and also runs convenience stores at several of its is not the first time the two groups have worked together. In March this year, Reliance Industries bought a 26% stake in Mahan Energen Ltd, a unit of Adani present, India's fuel retail business is largely dominated by government-run oil companies such as Indian Oil, BPCL and HPCL, which operate nearly 90% of the country's 97,000 outlets. With this new partnership, Adani and Reliance are aiming to offer an alternative fuel network for Indian consumers.- EndsMust Watch
Business Standard
9 hours ago
- Business
- Business Standard
Adani Total Gas gains on joining hands with Jio-bp to enhance auto fuel retail experience in India
Adani Total Gas (ATGL) rose 1.06% to Rs 638.50 after the company announced a strategic partnership with Jio-bp, the joint venture between Reliance Industries and bp Mobility, to transform the auto fuel retail experience in India. As part of the agreement, select ATGL fuel outlets will offer Jio-bps high-performance liquid fuels (petrol and diesel), while certain Jio-bp outlets will incorporate ATGLs CNG dispensing units within ATGLs authorized Geographical Areas (GAs). The collaboration aims to enhance the supply of high-quality fuels for transport consumers. ATGL, a joint venture between the Adani Group and TotalEnergies, is a leading city gas distribution (CGD) company in India. It supplies natural gas to households, industrial and commercial customers, and vehicle owners. The company also offers compressed biogas (CBG), EV charging solutions, and LNG for the transport sector. Jio-bp is a prominent player in Indias mobility sector, with a wide network of fuel stations and a strong focus on low-carbon energy solutions and modern convenience retail. Currently, ATGL operates around 650 CNG stations, while Jio-bp manages a network of approximately 2,000 fuel outlets. This strategic alliance marks a significant milestone in the journey of both companies toward sustainable growth and innovation. Sarthak Behuria, chairman, Jio-bp, said, We are united by a shared vision to offer our customers a superior selection of high-quality fuels. Jio-bp has always been committed to delivering an exceptional customer experience, and this partnership allows us to leverage each others strengths to further enhance the value we provide to India. Suresh P. Manglani, executive director and chief executive officer, Adani Total Gas, said, It is our shared vision to provide complete range of high-quality fuels at our outlets. This partnership will enable us to leverage each others infrastructure, thus enhancing customer experience and offerings. Adani Total Gas is one of India's leading private players in developing city gas distribution (CGD) networks to supply piped natural gas (PNG) to industrial, domestic (residential) customers and compressed natural gas (CNG) to the transport sector. Adani Total Gas reported a 9.65% fall in standalone net profit to Rs 149.38 crore in Q4 FY25 as against Rs 165.34 crore posted in Q4 FY24. However, revenue from operations (excluding excise duty) increased by 14.57% YoY to Rs 1,335.85 crore for the quarter ending 31 March 2025.
Economic Times
9 hours ago
- Business
- Economic Times
Adani Total Gas, Reliance's Jio-bp partner to offer each other's fuels in select outlets
In a move to improve fuel quality offerings, Adani Total Gas and Jio-bp, the fuel retail brand of Reliance BP Mobility, announced on Wednesday that they will begin offering each other's fuels in select outlets in India's fast-growing $150 billion fuel retail market. Under this partnership, select ATGL fuel outlets will offer Jiobp's liquid fuels (petrol and diesel), while select Jio-bp fuel outlets will integrate ATGL's CNG dispensing units, within ATGL's authorized Geographical Areas (GA), said Adani Total Gas through a stock exchange filing. 'Jio-bp has always been committed to delivering an exceptional customer experience, and this partnership allows us to leverage each other's strengths to further enhance the value we provide to India,' said Sarthak Behuria, Chairman, Jio-bp. 'It is our shared vision to provide complete range of high-quality fuels at our outlets. This partnership will enable us to leverage each other's infrastructure, thus enhancing customer experience and offerings,' said Suresh P Manglani, Executive Director and Chief Executive Officer, Adani Total Gas Ltd. Private retails gain share Private fuel retailers Reliance Industries and Rosneft-backed Nayara Energy are profiting from a market distortion created by state-run companies' refusal to cut pump prices, even as international fuel prices have fallen sharply. Reliance Industries and Nayara Energy are using these margins to undercut state-run firms by up to Rs 3 per litre, steadily eroding their market share in the retail petrol and diesel business, reported ET quoting industry executives. In April-May, the private sector's share of diesel sales increased to 11.5% from 9.6% a year earlier. In petrol, the share increased to 10% from 9%. At the same time, in the bulk diesel business, state-run and private suppliers were locked in a fierce battle, offering fuel at steep discounts to retail prices-highlighting just how much room there is to cut prices in a truly competitive market, according to executives. State-run Indian Oil Corporation regained significant share from private players in the bulk diesel segment during International Energy Agency expects India will become the largest source of global oil demand growth out to 2030, in contrast with China, where fuel demand may have already peaked.
