BRANDED PETROL, ANYONE?
Article Abstract:
The public sector oil companies like Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) are likely to be competitors once the petroleum sector is deregulated in 2002. They have started brand building exercise. Mr. Arthur D Little is working on restructuring the BPCL. According to Mr. Little, branding of petrol and diesel is harder than other products as India has not even reached the threshold level in quantity and quality. Market segmentation is required to cater to the different needs of customers. IOC has remodelled its retail outlets with standard colours. It plans to upgrade 7,000 outlets for an uniform visual identity. It has opened 150 'Servoshoppes' to sell its lubricants. HPCL has appointed Andersen Consultants to devise strategies to face competition in the deregulated market. MODE has conducted a research for BPCL for introducing branded products. It has collected data from 20,000 people in India. BPCL is focused on building a brand with its service attributes and it has started a training programme for 50,000 to 60,000 personnel. It is planning to offer value added services like payments by cards to truckers and high volume users. Reliance Petroleum plans to market petroleum products on its brand equity and it has started selling liquefied petroleum gas under its brand Reliance Gas. (rk)
Comment:
The public sector oil companies like Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) are likely to be competitors once the petroleum sector is deregulated in 2002.
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1998
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CRUDE PRICES MAY FALL BELOW $10 MARK
Article Abstract:
The International Petroleum Exchange Brent crude price is expected to fall below $10 per barrel. The price of crude has fallen by over 10 percent from $11.33 per barrel on February 1, 1999 to $10.10 per barrel on February 11, 1999. Oil and Natural Gas Corporation, India's primary oil producer, will be relatively insulated from the decline as the government has fixed a price of about $11 per barrel for it. But private sector joint venture projects like the Reliance-Enron venture at Panna-Mukta and the Videocon-Cairn Energy project at Ravva will be affected. (khr)
Publication Name: Economic Times
Subject: Business, international
ISSN: 0013-0389
Year: 1999
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