In a bid to make fuel more accessible, the government could soon allow supermarkets to sell petrol and diesel. The Ministry of Petroleum and Natural Gas is likely to come up with a Cabinet note for easing existing norms, said a source.
Indian government is planning a policy to make the sale of petrol and diesel easier. In this, foreign companies can get an exemption to sell oil in India. If this policy gets approval of the Union Cabinet, then it will allow big oil companies of Saudi Aramco, Total and Trafigura as well as supermarket chains to sell petrol and diesel in India. Will go. That is, customers will also be able to buy petrol and diesel from the mall in weekend shopping.
The oil ministries have prepared a cabinet note for this. This would break the two-decade-old tradition of requiring licenses to sell oil. So far, only those companies have the freedom to sell petrol, diesel and jet fuel which have invested or are about to invest Rs 2000 crore in oil exploration and production along with refining and laying of pipelines.
According to the news of Economic Times, the oil ministries have sought opinion from finance, commerce and law ministries for this. The proposal recommends relaxation of the licensing policy for selling oil. Also, it has been said to open the oil sector to outside companies.
The biggest reason for the decrease in the presence of companies in the oil sector is the rule of large investment. Demand for petrol, diesel and jet fuel has increased 8%, 3% and 9% respectively in 2018-19.
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If the Modi government brings a new policy for the oil sector, it will give Saudi Aramco, Total and Trafigura a chance to enter the Indian oil market. These companies are in touch with the oil ministries to get approval to sell oil in India.