In an interview to CNBC-TV18, MK Surana, CMD of Hindustan Petroleum Corporation Ltd (HPCL) shared his views on Reliance Industries Ltd (RIL)-BP partnership.
Competition is the order of the day, oil industry has operated in the competitive environment among the public sector undertaking (PSU) companies, he said.
Surana believes, competition is good for consumers, it drives more efficiency.
“We will definitely have our plan to face this competition and do better in this,” he further added.
India is a big market and there is space for everybody, he said.
“We saw good recovery in the month of May,” said Surana.
There was a good growth based on the pickup in two-wheeler market and the commercial vehicle (CV) segment and in the anticipation of good monsoon. He expects this to be better going forward.
Speaking on growth expectations, he said, “We are expecting a growth of at least 5 percent on diesel and almost 8-9 percent in motor spirit (MS).”
He also expects stable marketing margins.
For full discussion, watch accompanying video...
Disclaimer: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.
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