Essar, IOC bid for Shell outlets

Essar Oil and state-run Indian Oil Corporation (IOC) have bid for around five and 10 of Shell India’s retail outlets, respectively. Bharat Petroleum Corporation Ltd (BPCL) is negotiating to bid for nine outlets. Shell India, the domestic arm of Royal Dutch Shell Plc, had offered for sale 20 of its 80 operational retail outlets and around 20 sites acquired earlier for setting up such outlets. The only foreign petro retailer in the country, it has approached oil marketing companies, public and private, on this. However, despite repeated attempts, Shell India could not be asked to confirm the development. Opening of the new fuel outlets will pump new business opportunity to the signage moguls engaged in the oil sector.