The government has rejected for now global commodity trader Trafigura’s request for a licence to operate petrol pumps in the country, according to people aware of the development. Geneva-headquartered Trafigura, which along with Russian fund UCP and Russian oil firm Rosneft had purchased Essar Oil’s refinery and petrol pumps last year for $13 billion, had sought a separate licence to retail transportation fuels in the country but the government said the trader didn’t qualify for one just yet.
Trafigura is the latest in a series of global players expressing interest in entering the rapidly expanding Indian fuel retail market. UK’s BP has obtained a licence and plans to launch filling stations soon. Saudi Aramco and French firm Total too have announced intentions to operate pumps here while Shell already operates more than 100 pumps in the country.