BP to buy 49% stake in Reliance’s fuel retail business

British energy group BP will buy a 49% stake in Mukesh Ambani’s fuel retail network business of Reliance Industries for ₹ 7,000 crore.

Last week, the two announced a joint venture with the objective of opening petrol pumps across the country and retailing the fuel.

The joint venture aims to open 5,500 petrol pumps in five years.

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