18 April, Mumbai
Reliance Industries plans to Re-start it’s 1400 retail outlets to sell petroleum fuels by the end of the current financial year.
Reliance Industries closed all its 1,400 retail pumps by March 2008 after the government’s decision to regulate retail prices of petroleum fuels which left oil marketing companies (OMCs) to bear some amount of fuel subsidy from their own account.
Reliance Industries and the Essar Oil, which also was operating such vends, suffered substantial losses and closed shop. Before that, these two companies had captured a 15-17 percent market share even though this was the turf of state-run companies.
In a presentation on the company’s corporate results for the financial year ended March 31, 2015, Reliance Industries said it has already re-started 320 of its petrol-diesel pumps, following the complete de-regulation of transport fuels.
The$66 Billion Oil refining to retail trade giant also said it has founded consistent customer experience across all the touch points, and added the next step will be to: “Fleet management program, providing better fleet control, cash flow management and cashless transactions.”
This is to help bulk customers. Another facet will be: “Target aggressive volumes in the bulk HSD (high-speed diesel) market, post de-regulation.”
Under the previous fleet management scheme, bulk operators like truckers were provided smartcards which their drivers could use to buy fuel at Reliance stations. This scheme helped the owners as it not only checked pilferage but also allowed online verification of supplies.