Reliance Industries-BP Fuel And Mobility Joint Venture Begin Operations

UK-based oil and gas company bp and Reliance Industries Limited (RIL) on Thursday announced the launch of Reliance BP Mobility Limited (RBML), a fuel and mobility joint venture. According to an official release, bp paid RIL $1 billion for a 49 per cent stake in the joint venture, while RIL will be holding the remaining 51 per cent. "Operating under the “Jio-bp” brand, the joint venture aims to become a leading player in India's fuels...