Reliance and BP agree to join hands for a new fuel venture

The final agreement on the establishment of their new Indian fuel and mobility Joint Venture (JV) has been signed by BP and Reliance Industries (RIL).

The new agreement follows the initial contract managers signed in August by the two companies.

The new JV is expected to be formed by 51% of the RIL and 49% of BP in the first half of next year.

"BP and Reliance put together th....