IndianOil to limit petrol pumps
New Delhi   12-Sep-2007
IndianOil has put brakes on its plans to set up petrol stations even as it follows the footsteps of Reliance and Bharti for a full-fledged foray into retail. "In past three years, IndianOil and other public sector oil marketing firms had set up large number of petrol pumps, the growth being 85 per cent. But with the companies making losses on fuel sale and private competition also decelerating, we have also decided to limit setting up of new petrol pumps," said IndianOil executive director (retail) A M K Sinha. IndianOil plans to set up about 550 petrol pumps this year, down from 1,200-commissioned last year.