New Delhi. Sarthak Behuria, former chairman of Indian Oil Corporation (IOC), has been made senior advisor to Reliance Industries. He will play a role in furthering the company's retail business. Behuria was with the Adani group until last year. Sources said that Behuria is set to give 'strategic direction and leadership' to Reliance's new fuel retail joint venture with BP in the UK.
BP plc took a 49 per cent stake in Reliance's fuel retail business last year. The acquisition was done for Rs 7,000 crore. The new joint venture of the two companies will take over the responsibility of 1,400 petrol pumps operated by Reliance. With this, the aircraft will be operating fuel operations at 30 airports across the country. Both partners aim to expand the fuel retail network to 5,500 petrol pumps in the next five years. Reliance will have a 51 percent stake in the new venture.
Behuria was one of the country's largest petroleum refining and marketing company IOC in 2005. Was made chairman. After the completion of the five-year term, he was eligible for a one-year extension till his retirement age, but the government did not give him an extension. After completion of his tenure at IOC, he was the Group President of KK Modi Group of Companies from 2010 to March 2016. He also served as Executive Director (LPG-LNG business) in the Adani Group from April 2016 to 2019.
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