The global energy company bp and Indias Reliance Industries Limited (RIL) announced the start of their new Indian fuels and mobility joint venture, Reliance BP Mobility Limited (RBML). As per earlier agreement bp has paid RIL $1 billion for a 49% stake in the joint venture, with RIL holding 51%.
- Operating under the Jio-bp brand, the joint venture aims to become a leading player in India’s fuels and mobility markets. It will leverage Reliances presence across 21 states and its millions of consumers through the Jio digital platform.
- bp will bring its extensive global experience in high-quality differentiated fuels, lubricants, retail and advanced low carbon mobility solutions.
The major deals and supports by Reliance Industries are featured below:
July 2020: Jio Platforms Limited a wholly-owned subsidiary of Reliance Industries announced that Intel Capital will invest approximately $285 million in Jio Platforms. Intel Capitals investment will translate into a 0.39% equity stake in Jio Platforms on a fully diluted basis.
June 2020: Jio Platforms Limited, a wholly-owned subsidiary of Reliance Industries announced that global alternative asset firm TPG will invest approximately $683 million in Jio Platforms.
June 2020: Reliance Industries subsidiary Jio Platforms announced that Abu Dhabi state fund Mubadala Investment Co. of UAE will purchase around 1.85% stake of Jio Platforms, for approximately $1.21 billion.
May 2020: Jio Platforms, announced that KKR will invest approximately $1.7 billion into Jio Platforms. This is KKRs largest investment in Asia and will translate into a 2.32% equity stake in Jio Platforms on a fully diluted basis.
May 2020: Jio Platforms Limited announced an investment of around USD 990 million by a leading global growth equity firm General Atlantic. General Atlantics investment will translate into a 1.34% equity stake in Jio Platforms on a fully diluted basis.
May 2020: Jio Platforms Limited had announced that Vista Equity Partners will invest $1.7 billion into the company. Texas based Vistas investment will translate into a 2.32% equity stake in Jio Platforms on a fully diluted basis.
May 2020: Jio Platforms announced that Silver Lake will invest approximately $850 million into Jio Platforms. Jio is building a Digital Society for India with various apps and digital ecosystems.
April 2020: Jio Platforms Limited had announced that Facebook will invest approximately $6 billion in Jio Platforms for a 9.99% equity stake of the company on a fully diluted basis.
April 2020: Reliance Industries Ltd. (RIL) had announced that it will enhance its support to the service of the nation 24×7 in a collective fight against Covid-19. The company has already initiated a multi-pronged prevention, mitigation, and ongoing support strategy that is comprehensive, sustainable, and resilient.
March 2020, RIL announced $66 million contribution to Indias PM CARES Fund to fight against Covid-19. The company also supports with medical devices, food delivery for health workers and caregivers. The company announced that its employees are ready for nations service daily.
About Reliance Industries Limited
Reliance Industries Limited, headquartered in Mumbai, India, is a leading multinational company. RILs activities include petroleum refining and marketing, hydrocarbon exploration and production, petrochemicals, retail and digital services. The companys products and services portfolio touches almost all Indians on a daily basis, across economic and social spectrums.
BP, a London based oil and gas leader, committed to a low carbon future, developing energy products and services with fewer emissions. The Company produces oil and natural gas, involved in refining, marketing, and distribution of petroleum products. The Company also generates energy from renewable resources that include solar energy, Wind energy, and Biofuels.
BP Portfolio: In solar energy, BP has a 43% share in Lightsource BP and playing a key role in developing solar energy around the world. In wind energy, BP generates more than 1,000MW of energy from nine sites in the USA and holds an interest in another facility in Hawaii. And in Biofuels segment, BP joint venture with Bunge and formed BP Bunge Bioenergia is a leading bioenergy company with 11 biofuels sites in Brazil.