Amid rising fuel demand, oil marketing companies like BPCL, HPCL and IOCL are set to open 190 new retail outlets in the Indian state.
Goa presently has 136 retail outlets. The three PSU oil marketing companies (OMCs) are expanding the state’s retail network to 326 fuel stations in future with the new outlets in urban areas, highways, agricultural pockets, rural and far-flung areas.
The expansion aims to ensure that quality petroleum products are readily available to meet the fuel needs of agriculture, rural areas and people residing in remote regions.
According to OMCs, retail sales of petrol and diesel have increased over the years as the need for energy has increased in line with the growth of the economy. Goa’s per capita fuel consumption is the highest in India. The state’s per capita consumption of petrol is 10.6 kg per month vis-à-vis the national average of 2.09 kg per month.
As far as diesel is concerned, the Goa’s per head consumption at 15.6 kg per month is three times higher than the all-India average consumption of 4.96 kg per month, while as regards the LPG Gas cylinders the per capita consumption stands at 3.9 kg per month as against the national average of 1.7 kg per month, as per the petroleum planning and analysis cell (PPAC) of the ministry of petroleum.
OMCs’ have advertised for setting up of petrol pumps after a gap of five years. The last advertisement for setting up of retail outlets was in the year 2018. The expansion of the retail outlet network not only addresses the growing energy needs but also creates employment opportunities.
Entrepreneurs are encouraged to seize the chance to associate with Fortune 500 companies and establish successful ventures in the fuel dealership sector.
Due to economic development in the country, land has become scarce, costly and has also opened up new opportunities for the landowners to utilise land for alternative purpose such as retail dealership.
To simplify the selection process and align with the government’s emphasis on ease of doing business, the OMCs have introduced user-friendly online simplified application forms.
While availability of suitable land at the advertised location is a crucial requirement for setting up a petrol pump, applicants in SC/ST locations can apply without land initially, but are expected to offer land when shortlisted for selection. The selection process will be based on computerised draw of lots or through bid opening conducted by an independent agency.
All new retail outlets will be developed using the latest technology, including automation. The dealership of retail outlets is seen as a significant opportunity for entrepreneurship.