Daijiworld Media Network – Mumbai

Mumbai, Jun 25: In a landmark collaboration, billionaire industrialists Mukesh Ambani and Gautam Adani have joined hands once again this time to transform India’s automotive fuel retail landscape. Their companies, Jio-bp and Adani Total Gas Ltd (ATGL), announced a strategic partnership on Wednesday to leverage each other's existing and upcoming fuel station networks.

As part of the deal, Jio-bp — a joint venture between Reliance and UK’s BP — will install petrol and diesel pumps at ATGL’s CNG stations. Simultaneously, ATGL will set up CNG dispensing units at Jio-bp fuel outlets within its authorised geographical areas.

The agreement, which covers both current and future outlets, aims to enhance fuel accessibility and improve consumer experience by offering a full range of energy solutions at unified locations.

Jio-bp currently operates 1,972 fuel pumps across India, while ATGL runs 650 CNG stations across 34 geographical areas. Both partners see this as a step towards breaking the dominance of state-run fuel retailers like IOC, BPCL, and HPCL, who collectively control over 90% of India’s 97,000+ fuel outlets.

“This partnership allows us to leverage each other’s strengths to enhance value for customers across India,” said Jio-bp Chairman Sarthak Behuria.

Echoing the sentiment, ATGL CEO Suresh P Manglani said, “It is our shared vision to provide a complete range of high-quality fuels, enhancing infrastructure and customer satisfaction.”

This marks the second business tie-up between the two tycoons. In March last year, Ambani’s Reliance acquired a 26% stake in an Adani Power project in Madhya Pradesh to secure 500 MW of captive power.

Despite often being portrayed as rivals — with interests in overlapping sectors like clean energy, media, and telecom — the two Gujarat-born industrialists are now forming synergies to take on entrenched public-sector players in multiple sectors.