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Petronet LNG plans to foray into retail sales of LNG: Report

07 Dec 2016

Petronet LNG, one of the leading oil and gas producers in the country, is reportedly planning to enter into retail sales of liquefied natural gas (LNG) through fuel outlets across the country. The company is in talks with oil marketing companies (OMCs) like IOC, HPCL and BPCL to use their retail outlets to sell LNG at least at 1000 retail outlets across the country within the next three years. This may include sharing of the facilities by OMCs through installing LNG dispensers and also running outlets operated by Petronet.

Petronet LNG is one of the leading players in oil and natural gas industry space. It has India’s first and largest LNG supply terminal located at Dahej. The company has reported 81.72% rise in its net profit at Rs 459.56 crore for the quarter ended September 30, 2016 as compared to Rs 252.90 crore for the same quarter in the previous year.

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Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323