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Reliance and bp launch ‘Jio-bp’ partnership for fuel retailing.

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Reliance BP Mobility Limited aims to expand from Reliance’s current fuel retailing network of over 1,400 petrol pumps to up to 5,500 over the next five years.

Reliance Industries Ltd (RIL) and British Petroleum (BP) on Thursday announced the start of their new Indian fuels and mobility joint venture, Reliance BP Mobility Limited (RBML).

Following initial agreements in 2019, BP and RIL teams have worked closely over the past few months in a challenging environment to complete the transaction as planned, a joint statement said.

BP has paid RIL $1 billion for a 49 per cent stake in the joint venture, with RIL holding 51 per cent.

“Operating under the “Jio-BP” brand, the joint venture aims to become a leading player in India’s fuels and mobility markets. It will leverage Reliance’s presence across 21 states and its millions of consumers through the Jio digital platform,” the statement said.

BP will bring its extensive global experience in high-quality differentiated fuels, lubricants, retail and advanced low carbon mobility solutions, added the statement.

BP and RIL expect the venture to grow rapidly to help meet India’s fast-growing demands for energy and mobility.

RBML aims to expand from its current fuel retailing network of over 1,400 retail sites to up to 5,500 over the next five years. This rapid growth will require a four-fold increase in staff employed in service stations, growing from 20,000 to 80,000 in this period. The joint venture also aims to increase its presence from 30 to 45 airports in the coming years.

Mukesh Ambani, Chairman and Managing Director of RIL said: “Reliance is expanding on its strong and valued partnership with BP to establish a pan-Indian presence in retail and aviation fuels. RBML will aim to be a leader in mobility and low carbon solutions, bringing cleaner and affordable options for Indian consumers with digital and technology being our key enablers”.

Bernard Looney, CEO of BP said that India has been leading the way with innovations in digital technology, value engineering and new energy solutions and it will require more energy for its economic growth and, as it prospers, its needs for mobility and convenience will accelerate.

“BP has a proud history in India spanning over a century. We are honoured to be a strategic partner with Reliance – India’s most valuable company – and pleased that our partnership has grown in both substance and spirit over this past decade. Reliance’s digital capabilities, technical expertise and reach complement our international fuels and service offers,” he said.

RBML has received the marketing authorization for transportation fuels, amongst other necessary regulatory and statutory approvals. The joint venture will begin selling fuels and Castrol lubricants with immediate effect from its existing retail outlets, which will be re branded to “Jio-BP” in due course, the statement said.

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Every person working in this company earns 50 lakh rupees annually

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In today’s time, every person wants to get good income for whatever work he does. May that life be a life of comfort. Have fun and stay entertained.

* Every person’s annual income is Rs 50 lakhs

But do you know that there is also a company where every person working on it has an annual income of Rs 50 lakhs. Yes you heard it right This is a company where the boss of this company reduced his income and raised his income to Rs 50 lakh per annum for every man working in his company.

* The gambling he played five years ago was beneficial

It was in 2015 when the boss of a card payments company in the Australian city of Seattle set a minimum salary of 70 thousand dollars, or about 50 lakh rupees, for his 120 employees. To do this, the company’s boss had reduced his income from one million dollars, or about seven crores. It has been five years now and this man is still taking a low salary. The man named Dan Price says that the gambling he played five years ago was beneficial.

* Valerie tells him how his life has remained

Actually Dan was taking a trip to the mountains near Seattle with his friend Valerie. Then his friend told such a thing that he got upset. On the go, Valerie tells him how his life has remained a pang. His landlord has increased the rent by $ 200 and is not able to meet the daily expenses.

* How much contrast in the world

Price says, “She is such that service, respect and hard work define her personality.” Valerie was earning 40 thousand dollars, or about 29 lakh rupees every year, but she could not get a house of her own in Seattle. She was Price was unhappy at how odd the world was. Suddenly he realized that he himself is part of the same problem. Price became a millionaire at the age of 31. His company Gravity Payments has around 2000 customers and is valued at millions of dollars. He created this company when he was a teenager.

* Decided to change the situation

Price was earning $ 1.1 million (about eight crore rupees) a year, but his friend Valerie realized that his staff would also be struggling. He decided to change these circumstances. Dan Price is very positive and polite, but he is one of the most powerful voices in the United States to rise against inequality.

* Society, greed in its culture

He says, “People are struggling with hunger, being fired from jobs or facing exploitation. Just so that one can find a luxurious apartment in a high tower in New York, where he can rest on a sleeping chair. We are promoting greed in our society, our culture.

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