HPCL & Fiji Holdings Create New Petrol Retail Agreement
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Wednesday, 18 February 2009 |
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India's state-run Hindustan Petroleum Corp aims to begin fuel retailing
in Fiji and some other Pacific islands by end-March, marking its entry
in the overseas retail business, its chief executive.
Arun Balakrishnan said HPCL has entered into an agreement for fuel
retailing business with Fiji Holdings Ltd, which has operations in
Fiji, Tonga, American Samoa, Vanuatu, Tuvalu and the Cook Islands.
"They (Fiji Holdings) don't have expertise in marketing fuels. So they
have reached an understanding with us to manage their retail fuel
business," he said. HPCL will source products from the Singapore
market.
He said their retail business included about 65 petrol pumps, 11 oil
terminals and depots and about half a dozen aviation storage facilities
in Fiji and the Pacific region. Balakrishnan, also the company's
chairman, did not specify the volumes to be sold in these countries.
"The volumes are very small. But it will give us an experience in
selling fuel in overseas markets."
PetrolWorld Feb09
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