New Delhi, May 19: Petroleum minister Ram Naik has approved an ONGC proposal to set up additional 500 petrol pumps in the country. The upstream oil major had been granted permission in May last year to set up 600 retail filling stations.
ONGC’s present proposal includes Karnataka, Kerala, Goa and Pondicherry as the new states where it wants to go in for the marketing of petrol and diesel.
These areas can be fed by Mangalore Refinery and Petrochemicals Ltd (MRPL), in which ONGC has now acquired a 51 per cent stake.
The additional retail outlets are expected to consolidate ONGC’s march towards becoming an integrated oil company spanning both the upstream and downstream segments of the hydrocarbon sector.
The company will have to set up a minimum of 11 per cent of the 1,100 retail outputs in remote and low service areas. The earlier proposal of ONGC envisages putting up 100 petrol pumps in Andhra Pradesh and 500 in Maharashtra and Gujarat.
There are currently about 20,000 retail filling stations for petrol and diesel in the country. The government has granted authorisation to new players for setting up 11,159 retail outlets.
This comprises 5,849 filling stations to be set up by Reliance, 2,000 by Shell, 1,700 by Essar, 1,100 by ONGC and 510 by Numaligarh Refinery Ltd.