Indian Oil, BPCL eye Shell India's fuel stations

Indian Oil Corp., India’s largest oil retailer, is evaluating a proposal to buy fuel stations owned by the local arm of Royal Dutch Shell, the chairman of the Indian company said. “We are looking at it. They have approached us. Depending on location we will bid,” B.M. Bansal told reporters on the sidelines of a conference. Shell India had said it planned to sell of some of its about 80 fuel stations in India while continuing to build new ones to cover more regions as part of its business strategy. Separately, an official at Bharat Petroleum Corp Ltd, another state-run retailer, said it was also in talks with Shell to buy some of the fuel stations. “They are offering 20-30 fuel stations,” said the official, who declined to be named as BPCL has signed confidentiality agreement with Shell. He said some of the stations were closed, while others were operating. (July 13, 2010)