IndianOil plans another 1500 fuel stations

Vol 19, PW 26 (08 Sep 16) News in Brief
     

Even if you're well ahead of the pack it's best not to get too complacent.

That's why IndianOil is planning to add 1500 fuel retail stations by March 31, 2017 to the 25,461 it operates already. "We have a 46% market share of the fuel retail business in the country," IOC director marketing BS Canth tells us.

"We want to maintain our dominant position." Canth adds that the 1500 additional stations will be a mix of dealer and company owned. When asked if he fears competition from private sector companies like Reliance or Essar, Canth says both together control only 5% of the market.

"They (Essar and Reliance) entered the market in 2003-2004 with a bang," he says. "But it isn't there anymore.

Everyone likes to try a new restaurant but whether they keep going back is a different matter. We don't worry about them." Canth admits IOC has shelved its earlier plans to rapidly expand its network of nearly 300 stations selling LPG as car fuel.

"With the government pushing CNG it makes no sense to add more LPG stations," he explains.