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French multinational oil and gas major Total SA is exploring opportunities in India’s downstream fuel retailing sector.
Speaking to journalists at the FICCI Business and Climate Summit, Total SA, CEO, Patrick Pouyanne, said: “It's a big market with big players like Indian Oil Corporation and others having thousands of retail stations.”
“It has been recently deregulated. Obviously, we are thinking about it. I think it is a matter of finding the right Indian partners,” he added.
Pouyanne also said that the company will focus on LNG terminals and that the company has plans for the LPG business in India.
He had earlier in the day met Minister of State (Independent Charge) for Petroleum and Natural Gas Dharmendra Pradhan.
Pradhan later tweeted that he encouraged Total to invest in infrastructure, gas pipelines, LNG terminals and petrochemicals in India.
He welcomed the partnership between Total and Indian oil marketing companies in the areas of LPG, LNG, Gas infrastructure and renewable energies.
Pouyanne said that the partnership is necessary to understand the local ways of doing business in India.
He said, “…We have an interest, but we have to find the right partner to do the local business like most of peers have done as well.”
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