Reliance to restart all fuel pump outlets by March 2016

Reliance Industries plans to restart its entire 1,400 retail fuel pump outlets in fiscal year ending March 2016, a report on the company website shows.

The stations were closed in 2008 when global oil prices surged towards $150 a barrel and the government's subsidy to state fuel retailers knocked privately owned retailers out of the market.

Over 320 fuel outlets have already been restarted, a presentation on the website showed.

Reliance took a significant share away from the state companies in 2006.

The top three state refiners, Indian Oil Corp, Bharat Petroleum Corp and Hindustan Petroleum Corp, between them sell nearly all of petrol and diesel consumed annually in India.

(Reuters)