4 Feb 2009

India state-run corp keen to begin fuel retail in Fiji and other Pacific countries

11:23 am on 4 February 2009

The chief executive of India's state-run Hindustan Petroleum Corp is aiming to begin fuel retailing in Fiji and some other Pacific islands by end-March, marking its entry in the overseas retail business.

Arun Balakrishnan told Reuters that HPCL has entered into an agreement for fuel retailing business with Fiji Holdings Ltd, which has operations in Fiji, Tonga, American Samoa, Vanuatu, Tuvalu and the Cook Islands.

He says Fiji Holdings doesn't have expertise in marketing fuels so they have reached an understanding with HPCL to manage their retail fuel business.

Balakrishnan, did not specify the volumes to be sold in these countries, but says the volumes are very mall, and will be sourced form the Singapore market