September 3, 2018
The company currently operates around 120 outlets across India and has acquired land for up to 200 more outlets
Shell was the first foreign firm to receive approval to retail fuel in India, and controls license to operate 2,000 outlet
India’s oil demand is expected to grow at a CAGR of 3.6 per cent to 458 million tonnes of oil equivalent by 2040
With over 4,000 staff, Shell India runs a technology centre, a business centre and a LNG receiving and regasification terminal
Royal Dutch Shell Plc is looking to open as many as 1,200 retail outlets across India over the next decade, according to news reports on September 3, citing a official statement. The Anglo-Dutch energy giant’s expansion in the world’s third largest oil market is expected to create as many as 200,000 new direct and indirect jobs covering fuel and lubricants retail and servicing. The plan was announced by Shell India chairman, Nitin Prasad, at the launch of Shell’s startup incubator and accelerator. The company currently operates around 120 outlets across India and has acquired land for up to 200 more outlets.
Shell was the first international company to receive approval to retail fuel in India, and controls license to operate 2,000 outlet. The company looks at India as not just a fast growing market but as a hub for global solutions. Last month, it had entered into an agreement with France’s Total to acquire the latter’s 26 per cent stake in the Hazira LNG and Port venture in western state of Gujarat. India’s oil demand is expected to grow at a CAGR of 3.6 per cent to 458 million tonnes of oil equivalent by 2040, while demand for energy will more than double by 2040 while the economy grows by over five times.
With over 4,000 staff in the country, Shell runs a technology centre, a business operations centre as well as a LNG receiving and regasification terminal. The company has also signed a preliminary agreement for a floating LNG terminal in the country. Additionally, Shell operates a downstream business marketing fuels, lubricants and specialty products. It recently launched an in-house global IT centre in Bengaluru. Under the incubator and accelerator programme, Shell is presently guiding five startups in Bangalore. The outfits are focussed on energy technologies and services as well as waste management.