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Essar Oil signs agreement with Indraprastha Gas

09 Mar 2012 Evaluate

Essar Oil has signed an agreement with Indraprastha Gas (IGL) to put up the latter’s CNG pumping facilities at Essar Oil’s outlets in the National Capital Region (NCR).

Essar Oil has been aggressively adding multi-fuel options for its customers and has tie-ups with Gujarat State Petroleum Corporation (GSPC), Mahanagar Gas (MGL), GAIL Gas, Sabarmati Gas, Adani Gas and Gujarat Gas Corporation for selling CNG sourced from these companies at its franchisee-owned and franchise operated outlets. For Auto LPG, Essar Oil has a similar tie-up with Aegis Logistics. The company has CNG facilities at 12 of its retail outlets in Gujarat and plans to add another 30 such facilities across its network.

The company is also increasing non fuel retailing activities at its retail outlets to provide an additional source of revenue for its franchisees. It has forged alliances with non-fuel retailers in segments like lubricants, food and beverages, agro products, telecom and banking & finance.

Peers
Company Name CMP
Reliance Industries 1419.20
Indian Oil Corp. 140.75
BPCL 294.85
HPCL 377.75
MRPL 161.05
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