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Jio-bp, the fuel retailing joint venture of Reliance Industries Ltd and UK's bp Plc, on Tuesday launched an additive-laced premium <keyword id="6356109" type="General" weightage="100" keywordseo="diesel" source="Orion">diesel</keyword> that the company said gives improved mileage and gives a saving of up to Rs 1.1 lakh per truck. The premium diesel is priced at rates lower than normal or additive-free diesel sold by public sector (PSU) competition. "Jio-bp today announced the launch of its diesel with ACTIVE technology, set to elevate diesel standards for Indian consumers. "The newly launched additivised diesel, available across the company's network will yield annual savings of up to Rs 1.1 lakh per vehicle to truckers owing to (up to) 4.3 per cent improved fuel economy," it said in a statement. The new diesel is being sold at the Jio-bp outlet in Navi Mumbai for Rs 91.30 per litre, while the normal diesel at PSU petrol pumps in the area cost Rs 92.28 a litre. This new high performance diesel offering will be available at all Jio-bp outlets and "will be offered at regular prices with no additional cost for the first time ever in the Indian market," it said. Diesel with ACTIVE technology helps reduce the risk of unscheduled maintenance caused by dirt build up and removes existing dirt from critical engine parts and protects against its build up with ongoing use. It is designed to work across a range of commercial vehicles, and with ongoing use it offers a variety of benefits to drivers and fleet owners. It helps restore and maintain the power of the engine with ongoing use while also reducing the risk of unscheduled vehicle maintenance, it added. Reliance BP Mobility Ltd (RBML) operates under the name 'Jio-bp'. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/the-changing-contours-of-cinema-goers-underperforming-hindi-movies-weigh-down-pvr-inox/articleshow/100271622.cms">The changing contours of cinema-goers &amp; underperforming Hindi movies weigh down PVR Inox</a> <a href="https://www.businessinsider.in/business/auto/news/tata-motors-in-top-gear-jlr-to-drive-growth-in-fy24/articleshow/100252339.cms">Tata Motors in top gear, JLR to drive growth in FY24</a> <a href="https://www.businessinsider.in/business/auto/news/tata-motors-posts-net-profit-of-5408-crore-in-q4-beats-estimates/articleshow/100189259.cms">Tata Motors posts net profit of ₹5,408 crore in Q4, beats estimates</a>

Jio-bp joint venture launches additive-laced premium diesel

<ul><li><keyword id="195740" type="General" weightage="100" keywordseo="hero-electric" source="Orion">Hero Electric</keyword> has announced a partnership with <keyword id="9546503" type="General" weightage="20" keywordseo="jio-bp" source="Orion">Jio-bp</keyword> to boost two-wheeler charging and battery swapping infrastructure.</li><li>Jio-bp currently offers battery charging and swapping stations under the Jio-bp <keyword id="72069" type="General" weightage="50" keywordseo="pulse" source="Orion">Pulse</keyword> brand.</li><li>Hero Electric customers will get access to Jio-bp’s charging infrastructure.</li></ul>Indian electric scooter maker Hero Electric announced a partnership with Jio-bp to provide EV charging and battery swapping solutions. Jio-bp is a joint venture between Mukesh Ambani-led <keyword id="6355199" type="General" weightage="50" keywordseo="reliance-industries" source="Orion">Reliance Industries</keyword> and British oil giant BP that was announced in 2020. The partnership between Hero Electric and Jio-bp will allow the automaker’s customers access to the latter’s charging and battery swapping infrastructure. “In addition to creating solutions for seamless customer journey on Hero Electric and Jio-bp apps, both companies will bring the best of their global learnings in electrification and apply them to the Indian market to create a differentiated customer experience that delights the consumer,” Hero Electric said in a statement. Jio-bp currently has battery charging and swapping stations across the country under the Jio-bp pulse brand. Customers can find nearby stations using the Jio-bp pulse app. Hero Electric currently has over 750 sales and service outlets across the country and has sold over 4.5 lakh electric two-wheelers. “Hero is committed to delivering the best electric mobility solutions to its consumers and this association will fasten the EV growth in the country while strengthening Hero Electric’s vision to transform the e-mobility sector in India,” Hero added. Jio-bp has partnered with other companies in the ecosystem like <a href="https://www.businessinsider.in/business/auto/news/reliance-mg-motor-and-castrol-team-up-to-build-electric-charging-infrastructure-across-india/articleshow/91966297.cms">MG Motor</a> and oil giant Castrol. It also partnered with TVS Motors, another domestic electric scooter maker to provide electric charging facilities for the latter’s two and three wheelers. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/mercedes-benz-says-25-of-its-sales-in-india-will-be-electric-by-2027/articleshow/93771806.cms">Mercedes-Benz says 25% of its sales in India will be electric by 2027, plans to launch three new electric cars this year</a> <a href="https://www.businessinsider.in/business/auto/news/government-is-reportedly-reworking-the-fame-ii-scheme-to-ensure-companies-use-domestic-components/articleshow/93752352.cms">Government is reportedly reworking the FAME-II scheme to ensure companies use domestic components</a> <a href="https://www.businessinsider.in/business/auto/news/ather-450x-gen-3-vs-ola-s1-vs-tvs-iqube-s-electric-scooters-comparison-of-price-and-features/articleshow/93594152.cms">Ather 450X Gen 3 vs Ola S1 vs TVS iQube S – price, specs and features compared</a>

Hero Electric partners with Jio-bp for EV charging and battery swapping solutions

Real estate arm of the <keyword id="6400918" type="General" weightage="50" keywordseo="piramal-group" source="Orion">Piramal Group</keyword>, <keyword id="620925" type="General" weightage="80" keywordseo="piramal-realty" source="Orion">Piramal Realty</keyword>, and Jio-bp announced their partnership to provide world-class EV charging solutions across all <keyword id="100407" type="General" weightage="100" keywordseo="piramal" source="Orion">Piramal</keyword>'s residential projects in the Mumbai Metropolitan Region, a joint press release stated on Thursday. Jio-bp is a fuel and mobility joint venture between RIL and bp. As part of this partnership, customers and visitors to Piramal's residential projects will be able to charge their electric vehicles seamlessly at Jio-bp pulse EV charging stations at sites with the Jio-bp pulse mobile app. The first set of EV charging points at <keyword id="3415882" type="General" weightage="50" keywordseo="piramal-vaikunth" source="Orion">Piramal Vaikunth</keyword> in Thane were installed. Piramal Group said sustainability is a key pillar of Piramal Realty's business strategy and is integrated at all levels of its operations. The availability of EV charging infrastructure within its residential complexes ensures convenient charging of electric vehicles and boosts the confidence of potential electric vehicle buyers. Jio-bp constructed and launched many charging hubs along with hundreds of public charge points in various cities and major highways in India. Besides fixed charging, Jio-bp also offers <keyword id="5930710" type="General" weightage="80" keywordseo="battery-swapping" source="Orion">Battery Swapping</keyword> services through its large network of Battery Swapping Stations. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/heres-how-meesho-zepto-pepperfry-and-icertis-cracked-hyperscaling/slidelist/98943189.cms">Here’s how Meesho, Zepto, Pepperfry and Icertis cracked ‘hyperscaling’</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/global-it-services-firm-accenture-slashes-19000-jobs-tech-mayhem-deepens/articleshow/98944217.cms">Global IT services firm Accenture slashes 19,000 jobs, tech mayhem deepens</a>

Piramal Realty inks deal with Jio-bp to install EV charging stations at its properties

<ul><li><keyword id="9349591" type="General" weightage="100" keywordseo="blusmart" source="Orion">BluSmart</keyword> is poised to double its fleet by the end of the year and aims to have over 1,00,000 EVs on its platform by 2025.</li><li>Back in 20221, <keyword id="15125737" type="General" weightage="20" keywordseo="Jio-BP-and-BluSmart" source="Orion">Jio-BP and BluSmart</keyword> joined hands to set up EV charging stations in India.</li><li>BluSmart has the largest fleet of electric cabs and the largest network of EV fast charging stations across Delhi NCR, according to the company.</li></ul>As India rides on the EV bandwagon with the government promoting several use cases, BluSmart is poised to double its fleet by the end of the year and aims to have over 1,00,000 EVs on its platform by 2025. Rishabh Sood, CTO, BluSmart, told IANS that from a charging infrastructure perspective, both state and central government responses have been great and have floated many projects on a PPP basis. With the ever-growing customer base, Sood added, it is imperative to have BluSmart's services up and running with zero downtime and for this, the startup relies on various AWS services to build a strong foundation. Here are the excerpts from an interview: Q: What is BluSmart's USP? How do you differentiate yourself from other players in the <keyword id="6744459" type="General" weightage="20" keywordseo="EV-fleet" source="Orion">EV fleet</keyword> landscape? A: BluSmart is the only ride hailing service in the country that ensures zero emission, zero surge and zero ride denials to its customers and zero financial investment from its driver partners. We believe the source of our sustainable competitive advantage is that we have built multiple small MOATs around various parts of the business, which are collectively keeping us ahead of the curve. On the customer end, by solving for the core issue of hassles of ride booking, cancellations, surge and unclean cars we have been able to build a very loyal customer base. This hassle free experience of zero surge, zero cancellation and clean cars with courteous drivers being achieved every day repeatedly is starting to become a habit. On the driver end, by solving for the core issue of driver partners' inability to buy, own and maintain assets, we have been able to build loyalties on the drier partner side, which is immensely important since they are the brand custodians on the roads and are the ones who uphold the brand promise every time. On the technology side, by solving for the core issue of "fuel being a constraint" with EVs as against ICE powered vehicles where the ride-hails tech historically has not been required to worry about the fuel inside the car. Building a technology backend which is born electric and takes a full stack approach towards solving for ride matching at scale where no human is required to take decisions and the technology optimally guides the drivers right from picking up customers to reaching the nearest EV charging stations when running out of charge. On the partner ecosystem side, by solving for the core issue of having partners who have a purpose and a vision that feeds into each other's ambitions. Having partners like BP Ventures who come with the right global experience around energy and team building. Having partners like JioBP, which is a JV between Reliance and BP in India and having the backing of the largest enterprise in India in building more EV charging infra. Having partners like Tata Motors, who have decades of experience in automobiles and have taken the right stand when it comes to EVs and is able to support the growth ambitions of BluSmart. Q: For India to achieve its vision of reducing emission intensity by 45 per cent by 2030 and reach the net-zero target by 2070, EV would have to go mainstream. What are some of the biggest roadblocks you see today in India, be it in the manufacturing, EV financing, regulatory and policy landscape? A: The country has faced supply and delivery challenges in the past in getting EVs from leading OEMs around the country due to the semiconductor chip crisis in the past 3 years. Since, the supply chain and semiconductor issues have now started to relax, we are seeing an accelerated movement towards vehicle production and delivery. We believe that the manufacturing of EVs needs to be scaled up massively to support the increased adoption of EVs which in turn will lead to economies of scale. Also entry of established players into the EV industry will provide a variety of options to the common man. From a charging infrastructure perspective, both state and central government response have been great and have floated many projects on a PPP basis. We have also partnered up with giants such as Jio BP to help our expansion plans and create more charging infrastructure. Ramping up of charging infrastructure will play a key role in achieving net zero emission. Q: Tell us about the scale of your operations/size of EV fleet in India and your projected growth trajectory over the next 5 years? A: BluSmart currently operates an electric fleet of 2,200+ EVs on its platform. BluSmart Mobility is the most preferred mode of public transportation across Delhi NCR having completed 2.5 million+ all electric trips, covering over 86 million+ clean kms with over 900,000+ app downloads with an app rating of 4.9 out of 5.0 in the last year. It has the largest fleet of electric cabs and the largest network of EV fast charging stations across Delhi NCR. On September 26, 2022, BluSmart expanded geographically and started its operations in Bengaluru as its second city. BluSmart is poised to double its fleet by the end of the year and aims to have over 1,00,000 EVs on our platform by 2025. Q: What has AWS and cloud technology enabled you to do better? A: AWS is our trusted cloud partner for its feature rich and highly performant ecosystem of diversified services. With the ever growing customer base, it is imperative to have BluSmart's services up and running with zero downtime and this is where Amazon CloudWatch helps to preemptively learn metrics breach and remediate the same automatically. BluSmart uses Amazon Aurora, which is designed for exceptionally high performance and availability at a global scale with full MySQL and PostgreSQL compatibility. We adopted Aurora because it gives us the ability to manage our data at a large scale without having to deal with maintenance and optimizations at our end. At BluSmart every decision we make is driven by data hence we wanted a petabyte-scale data warehouse service that makes it simple and cost-effective to efficiently analyze data using existing business intelligence tools therefore we decided to go with Amazon Redshift as it provides constant monitoring of operations, logs, auditing, and traceability. We discovered key improvements in cost and performance for improving speed to market and operational efficiency. During our peak demand periods, we rely on AWS Autoscaling to handle high surge in requests by scaling containers and Database read replicas to provide seamless and elated customer experience. We at BluSmart are focused on the security of our data, infrastructure and resources and we rely on various AWS security services to build a strong foundation. We will continue to explore further on AWS in the future, adding new features and capabilities along the way. Q. In terms of business outcomes, what benefits have you experienced because of running on AWS? Please provide metrics where applicable: A: We have been able to bring efficiency in handling the demand and process performance by reducing the effort of self managing and monitoring the infrastructure. Without having to spend time on infrastructure engineering, developers are able to focus on the core product development which helps us reach the market faster. Usage of autoscaling to handle the load of peak and non peak demands efficiently by dynamic scaling up and scaling down of cloud infra on an intraday basis provided a significant cost advantage over maintaining a dedicated infra for peak loads. Further, periodic snapshots, data replication and disaster recovery strategy helps us mitigate data and infrastructure risks. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/no-hirings-more-layoffs-soon-mark-zuckerberg-to-employees/articleshow/94548917.cms">No hirings, more layoffs soon: Mark Zuckerberg to employees</a> <a href="https://www.businessinsider.in/tech/news/best-amazon-sale-deals-on-laptops-from-lenovo-asus-dell-hp-msi-and-more/articleshow/94359105.cms">Amazon Great Indian Festival Sale: Best deals on laptops from Lenovo, Asus, Dell, HP, MSI and more</a>

BluSmart to set up EV charging infra projects across India in PPP mode

<ul><li><keyword id="10926" type="General" weightage="20" keywordseo="reliance" source="Orion">Reliance</keyword> is expanding its partnerships with automakers to utilise its <keyword id="6434384" type="General" weightage="20" keywordseo="electric-charging-infrastructure" source="Orion">electric charging infrastructure</keyword>. </li><li>After TVS Motor, Reliance’s Jio-bp has now teamed up with <keyword id="5287148" type="General" weightage="20" keywordseo="mg-motor" source="Orion">MG Motor</keyword> to allow MG car owners to charge their vehicles across <keyword id="6447142" type="General" weightage="20" keywordseo="castrol" source="Orion">Castrol</keyword>’s auto service network. </li><li>Jio-bp has also set up two large EV charging facilities – in Mumbai and Delhi. </li></ul>Mukesh Ambani’s Reliance Industries has announced a partnership with British carmaker MG Motor and Castrol, a British oil company, to expand electric charging infrastructure across India. The partnership will see the three companies leverage Castrol’s existing auto service network, thereby giving Reliance a presence across the electric charging network, Castrol another revenue stream and allow MG Motor car owners to charge their cars. Jio-bp and Castrol will also work together to expand the oil company’s auto service network to charge four-wheeler EVs, which will likely require facility upgrades. This will also allow Castrol an opportunity to service electric cars. “The partnership is in line with Jio-bp and MG Motor's commitment to provide vast and reliable charging infrastructure to electric car customers and accelerating EV adoption in India,” the joint statement issued by Jio-bp and MG Motor said. Consumers with EVs can make use of Jio-bp’s charging network using the Jio-bp pulse app. <cmsannotation type="cmsannotation" annotationid="Not the first time Jio-bp has partnered with an automaker" comment="subhead" text="Not the first time Jio-bp has partnered with an automaker">Not the first time Jio-bp has partnered with an automaker</cmsannotation> Earlier in April, Jio-bp announced a partnership with TVS Motor to provide electric charging facilities for TVS’ two and three wheelers. The <a href="https://www.businessinsider.in/business/auto/news/tvs-new-iqube-electric-scooter-comparison-with-ather-450x-and-ola-s1-pro/articleshow/91657740.cms">TVS iQube is the company’s latest electric scooter</a>. Jio-bp, a joint venture between Reliance Industries and BP, was <a href="https://www.bp.com/en/global/corporate/news-and-insights/press-releases/reliance-and-bp-launch-jio-bp-partnership.html">announced</a> back in 2020, at a time when the Reliance-Aramco deal was still a work in progress. Since the Reliance-Aramco deal went on the backburner, the Mukesh Ambani led company has launched two large EV charging hubs – in Mumbai and Delhi, respectively. It has also set up free EV charging facilities for its employees in a bid to boost EV adoption. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/the-indian-government-may-soon-have-more-control-over-how-social-media-companies-moderate-content-and-block-users/articleshow/91959142.cms">The Indian government may soon have more control over how social media companies moderate content and block users</a> <a href="https://www.businessinsider.in/business/corporates/news/rakesh-jhunjhunwalas-delta-corp-stock-lost-more-than-a-third-of-its-value-in-two-months/articleshow/91957129.cms">Rakesh Jhunjhunwala’s gamble on this stock is proving to be a bust after it slips 20% in a month</a> <a href="https://www.businessinsider.in/tech/news/new-vpn-rules-expressvpn-removes-its-servers-from-india-other-companies-may-pull-out-too/articleshow/91959389.cms">New VPN rules: ExpressVPN removes its servers from India, other companies may pull out too</a>

Reliance, MG Motor and Castrol team up to build electric charging infrastructure across India

Aviation fuel supplier <keyword id="9546503" type="General" weightage="20" keywordseo="jio-bp" source="Orion">Jio-bp</keyword> and two-and-three wheeler manufacturer <keyword id="108831" type="General" weightage="80" keywordseo="tvs-motor-company" source="Orion">TVS Motor Company</keyword> on Tuesday announced that the two entities have agreed to explore the creation of a robust electric vehicles charging infrastructure for both electric two-wheelers and three-wheelers in the country. Under this proposed partnership, the customers of <keyword id="62356" type="General" weightage="100" keywordseo="tvs" source="Orion">TVS</keyword> electric vehicles are expected to get access to the widespread charging network of Jio-bp, which is also open to other vehicles. Leveraging the strength of both companies, the said partnership aims at creating a regular AC charging network and a DC fast-charging network. Jio-bp is operating its EV charging and swapping stations under the brand Jio-bp pulse. "With the Jio-bp pulse app, customers can easily find stations nearby and charge their electric vehicles," a joint statement said. TVS Motor Company has made significant strides towards developing new electric mobility products and related technologies. Since its launch, the company has already sold over 12,000 units of its high-speed electric scooter <keyword id="6792610" type="General" weightage="50" keywordseo="tvs-iqube" source="Orion">TVS iQube</keyword>. "The company has committed Rs 1,000 crore towards EV business, a good portion of which has already been invested," the joint statement said, adding that the company is readying a complete portfolio of two and three-wheelers in the range of 5-25kW which will be in the market within the next 24 months. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/tata-motors-gains-6-shares-within-three-trading-days/articleshow/90664078.cms">Tata Motors gains 6% shares within three trading days</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/news/government-blocks-22-youtube-channels-for-spreading-disinformation/articleshow/90664326.cms">Government blocks 22 YouTube channels for 'spreading disinformation'</a>

Jio-bp and TVS Motor Company to collaborate on EV charging solutions

New Delhi, Jul 9 () Global energy supermajor BP plc and Reliance Industries Ltd on Thursday announced the start of their fuel retailing joint venture under the brand 'Jio-bp'. BP had last year bought 49 per cent stake in the 1,400-odd petrol pumps and 31 aviation turbine fuel (ATF) stations owned by Reliance Industries Ltd (RIL) for USD 1 billion. The joint venture, where RIL holds the remaining 51 per cent, has now commenced operations. "Following initial agreements in 2019, bp and RIL teams have worked closely over the past few months in a challenging environment to complete the transaction as planned," the companies said in a joint statement, adding the new fuels and mobility joint venture, Reliance BP Mobility Ltd (RBML), has started operations. Operating under the 'Jio-bp' brand, the joint venture aims to become a leading player in India's fuels and mobility markets. RBML has received the marketing authorisation for transportation fuels, amongst other necessary regulatory and statutory approvals. The joint venture will begin selling fuels and Castrol lubricants with immediate effect from its existing retail outlets, which will be rebranded to 'Jio-bp' in due course. "It will leverage Reliance's presence across 21 states and its millions of consumers through the Jio digital platform. bp will bring its extensive global experience in high-quality differentiated fuels, lubricants, retail, and advanced low carbon mobility solutions," the statement said. India's auto fuel retailing is dominated by public sector oil companies that own the majority of 69,392 petrol pumps in the country. State-owned IOC, BPCL and HPCL own 62,072 petrol pumps and 224 out of the 256 aviation fuel stations in the country. BP and RIL said they expect the venture to grow rapidly to help meet India's fast-growing demands for energy and mobility. "India is expected to be the fastest-growing fuel market in the world over the next 20 years, with the number of passenger cars in the country estimated to grow almost six-fold over the period. RBML aims to expand from its current fuel retailing network of over 1,400 retail sites to up to 5,500 over the next five years," the statement said. This rapid growth will require a four-fold increase in staff employed in service stations -- growing from 20,000 to 80,000 in this period. The joint venture also aims to increase its presence from 30 to 45 airports in the coming years. RIL Chairman and Managing Director Mukesh Ambani said: "Reliance is expanding on its strong and valued partnership with bp, to establish a pan-Indian presence in retail and aviation fuels. RBML will aim to be a leader in mobility and low carbon solutions, bringing cleaner and affordable options for Indian consumers with digital and technology being our key enablers." Bernard Looney, BP chief executive officer, said India has been leading the way with innovations in digital technology, value engineering and new energy solutions. "It is a country that will require more energy for its economic growth and, as it prospers, its needs for mobility and convenience will accelerate. bp has a proud history in India spanning over a century. We are honoured to be a strategic partner with Reliance - India's most valuable company - and pleased that our partnership has grown in both substance and spirit over this past decade," he said. The new joint venture aspires to provide Indian consumers with advanced fuels with lower emissions, electric vehicle charging and other low carbon solutions over time. RBML is also committed to the decarbonisation of its own operations as well as that of its wider ecosystem, the statement said. With its many investments in India and employing around 7,500 people in the oil, gas, lubricants, and petrochemical businesses, BP is one of the largest international energy companies in India. In addition to its gas value chain, retail, aviation fuels, and mobility alliance with RIL, BP's activities include Castrol lubricants, oil and gas trading, clean energy projects through investment in Lightsource bp, IT back-office activities and a new global business services centre. BP owns 33.3 per cent stake in RIL-operated gas blocks in eastern offshore including the flagging KG-D6 block. ANZ ANZ ABM ABM

BP, Reliance to retail fuel under 'Jio-bp' brand

<ul><li><keyword id="10926" type="CITY" weightage="20" keywordseo="Reliance">Reliance</keyword> Industries and <keyword id="32848" type="ORGANIZATION" weightage="20" keywordseo="BP">BP</keyword> have started the production from the R Cluster, ultra-deep-water gas field in block KG D6 off the east coast of India.</li><li>KG D6, which is the Krishna Godavari Dhirubhai 6, was Reliance’s first offshore gas field development. </li><li>Located at a water depth of over 2000 meters, it is the deepest offshore gas field in Asia, according to the company. </li></ul>Reliance Industries and BP have started the production from the R Cluster, ultra-deep-water gas field in block KG D6 off the east coast of India. The oil fields in the Krishna-Godavari basin, popularly known as KG-D6, was Reliance’s first offshore gas field development. Discovered in 2002, the KG D6 is also India’s largest deposit of natural gas. Through the three clusters of Reliance in KG D6 – R Cluster, Satellites Cluster and MJ, Located at a water depth of greater than 2000 meters, it is the deepest offshore gas field in Asia, the company said in a statement. . The Mukesh Ambani-led company hopes to produce 15% of India’s total gas consumption. According to <a href="https://www.businesstoday.in/current/corporate/ril-bp-set-start-gas-production-r-series-invest-rs-40000-crore/story/423436.html">reports</a>, production from Satellites Cluster and MJ is expected to begin in FY22. “This is a significant milestone in India's energy landscape, for a cleaner and greener gas-based economy. Through our deep-water infrastructure in the Krishna Godavari basin we expect to produce gas and meet the growing clean energy requirements of the nation,” said <keyword id="3820" type="PERSON" weightage="20" keywordseo="Mukesh-Ambani">Mukesh Ambani</keyword>, Chairman and Managing Director of Reliance Industries Limited in a statement. Reliance and bp are together investing ₹40,000 crore into KG-D6. Earlier, BP had invested $1 billion for a 49% stake in the joint venture called “Jio-bp”, with <keyword id="6484187" type="COMPANY" weightage="20" keywordseo="ril">RIL</keyword> holding 51%. SEE ALSO: <a href="https://www.businessinsider.in/business/news/ikea-india-cfo-says-she-still-has-3500-crore-to-be-spent-in-india-the-pandemic-has-changed-targets-but-not-the-investment-plan/articleshow/79790938.cms">INTERVIEW: Ikea CFO says she still has ₹3,500 crore to be spent in India⁠— the pandemic has changed targets but not the investment plan</a> <a href="https://www.businessinsider.in/science/health/news/india-will-produce-300-million-doses-of-the-russian-sputnik-v-covid-19-vaccine-next-year/articleshow/79795341.cms">India will produce 300 million doses of the Russian Sputnik V COVID-19 vaccine next year</a> <a href="https://www.businessinsider.in/business/ecommerce/news/flipkart-shares-new-data-how-the-indian-heartland-is-turning-into-a-business-for-the-e-commerce-giant/articleshow/79792821.cms">Flipkart shares new data on how the Indian heartland is turning into a big business for the e-commerce giant</a>

Reliance and BP start production from KG-D6 oil field – off the coast of Kakinada

<ul><li><keyword id="6354504" type="DEFINITION" weightage="20" keywordseo="reliance-jio">Reliance Jio</keyword>, the telecommunications arm of the Indian behemoth <keyword id="6355199" type="ORGANIZATION" weightage="20" keywordseo="reliance-industries">Reliance Industries</keyword>, saw a 33.76% jump in revenue with profits tripling in the first quarter.</li><li>It’s also on the track to stabilise its costs with the average return per user (ARPU) hitting ₹ 140.3 per subscriber — a 7.4% increase over the end of March. </li><li>Average data consumption continued to rise and voice consumption returned to its former downtrend.</li></ul>The shining beacon of <keyword id="3820" type="PERSON" weightage="20" keywordseo="Mukesh-Ambani">Mukesh Ambani</keyword>’s Reliance Industries, Jio, continues to shimmer in the first quarter, with profit leaping by 182.8% as compared to the same quarter last year. Revenues have risen by 33.76%. <div type="image" title="jio net profit" msid="77265983" hostid="261" caption="&amp;lt;p&amp;gt;Jio&amp;#39;s net profit over the last five quarters&amp;lt;/p&amp;gt;"></div> Even as other segments of Reliance Industries saw weakness due to the impact of the coronavirus pandemic, Jio has continued to thrive with its average return per user (ARPU) which was up 7.4% quarter-on-quarter to ₹140.3 per subscriber alleviating concerns around the quality of the customer base in comparison to Bharti Airtel. <div type="image" title="JIO ARPU" msid="77265999" hostid="261" caption="&amp;lt;p&amp;gt;Jio&amp;#39;s ARPU over the last five quarters&amp;lt;/p&amp;gt;"></div> Average data consumption was up to 12.1 GB per month, however, voice consumption — which had continually fallen until last quarter — returned to its downward trajectory by dipping to 756 minutes. Total wireless data traffic during the first quarter of 2020-21 grew 30.2% as compared to the same quarter last year to hit 1,420 crore GB. <div type="image" title="jio consumer engagement" msid="77266010" hostid="261" caption="&amp;lt;p&amp;gt;Jio&amp;#39;s voice and data consumption over the last five quarters&amp;lt;/p&amp;gt;"></div> After all the investments in the last three months, Reliance Industries effectively holds 66.48% equity in <keyword id="9093411" type="UNKNOWN" weightage="20" keywordseo="Jio-Platforms">Jio Platforms</keyword>. It has raised ₹152,056 crore across its thirteen investors with ₹115,694 crore in the bank. “₹22,981 will be retained at Jio Platform to drive future growth,” the company said in a statement. <div type="Article" hostid="261" msid="77264366" title="RIL has a sobering quarter⁠— if not for Jio and BP stake sale it would have been much worse" mstype="2" mssubtype="0"></div> Jio’s newly launched video conferencing tool - JioMeet has reportedly been downloaded by more than 5 million users so far, according to the company. SEE ALSO: <a href="https://www.businessinsider.in/retail/news/reliance-retail-profit-more-than-halves-but-mukesh-ambani-puts-the-spotlight-on-surging-orders-on-jiomart/articleshow/77265437.cms">Reliance Retail’s profit more than halves but Mukesh Ambani puts the spotlight on surging orders on JioMart</a> <a href="https://www.businessinsider.in/business/corporates/news/ril-has-a-sobering-quarter-if-not-for-jio-and-bp-stake-sale-it-would-have-been-much-worse/articleshow/77264366.cms">RIL has a sobering quarter⁠— if not for Jio and BP stake sale it would have been much worse</a>

Jio continues to be Reliance Industries’ beacon with 182% jump in profit

<ul><li>Mukesh Ambani-owned Reliance Industries announced a new pact with BP to sell fuel for airlines in India.</li><li>The company said that it will make about ₹7000 crore from the joint venture.</li><li>The announcement came with the company's quarterly earnings report.</li></ul>Mukesh Ambani-owned Reliance Industries announced a new pact with BP to sell fuel for airlines in India. The announcement came with the company's quarterly earnings report. "BP and RIL agreed to form a new joint venture that will include a retail service station network and aviation fuels business across India. Building on Reliance’s existing Indian fuel retailing network and an aviation fuel business, the partners expect the venture to expand rapidly to help meet the country’s fast-growing demand for energy and mobility. Reliance will get approximately ₹7,000 crore from BP’s investment in this joint venture," the statement said. 
 
 
 
 
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 The two companies formed a partnership in 2011 and decided to expand the tie-up in 2017. The two companies together operate fuel retailing outlets in the country and intend to increase the number of fuel-vending stations to 5,500. SEE ALSO: <a href="https://www.businessinsider.in/business/news/reliance-industries-retail-q2-earnings-report/articleshow/71651677.cms" data-type="tilCustomLink" target="_blank">Reliance Retail surprises with a sharp growth of 27.3% despite slowdown</a> <a href="https://www.businessinsider.in/top-highlights-from-mukesh-ambani-owned-reliance-industries-rils-quarterly-earnings/articleshow/71651084.cms" data-type="tilCustomLink" target="_blank">Reliance Industries posts a record profit even as refining and telecom verticals soften</a> <a href="https://www.businessinsider.in/business/corporates/news/reliance-jio-plans-made-more-money-but-added-fewer-subscribers/articleshow/71651933.cms" data-type="tilCustomLink" target="_blank">Reliance Jio added fewer subscribers in Q2 but made more money out of them</a>

Reliance Industries makes a new pact with BP to sell jet fuel in India

<ul><li><keyword id="152170" type="COMPANY" weightage="20" keywordseo="Saudi-Aramco">Saudi Aramco</keyword>’s chairperson Yasir al-Rumayyan’s appointment to the <keyword id="10926" type="CITY" weightage="20" keywordseo="Reliance">Reliance</keyword>’s board</li><li>The strategic partnership with Saudi Aramco is a part of Reliance agenda to expand its oil-to-chemical business</li><li>Reliance is developing a Dhirubhai Ambani Green Energy Giga Complex to create solar energy</li></ul>Mukesh Ambani-led Reliance Industries officially announced the strategic deal with Saudi Aramco, at its 44th annual general meeting (AGM) held today at 2 p.m. The strategic partnership with oil major Saudi Aramco is a part of the company’s vision of achieving accelerated growth in its oil-to-chemical (O2C) business, Reliance’s Chairperson and Managing Director Ambani announced today. He further added that the partnership is expected to be “formalised in an expeditious manner during this year.” "We operationalised the JV [joint venture] with BP [of UK] in fuel retailing, using technology and innovation to deliver new customer value. The demand and margin environment for petrochemicals had recovered to pre-COVID levels by March. I am confident that our O2C [oil-to-chemicals] business will benefit from the strong global growth environment,” Ambani. Saudi Aramco’s chairperson Yasir al-Rumayyan’s appointment to the Reliance’s board is seen as another positive sign for this deal initially announced in 2019. “He is one of the most renowned names in energy finance and technology globally. I am sure that we will immensely benefit from his rich experience with one of the world's largest companies, and also one of the largest sovereign wealth funds in the world,” Ambani said. Here are some of the highlights from Reliance Industries’ AGM <ul><li><keyword id="6484187" type="COMPANY" weightage="20" keywordseo="ril">RIL</keyword> to invest over ₹60,000 crore in new energy business: Ambani, at the 44th AGM, also specified Reliance Industries’ mega plans for green energy this year with four new projects -- integrated solar photovoltaic module factory, advanced storage battery factory, electrolyser factory, fuel cell factory. It has also established a Reliance New Energy Council. The company is working on its first integrated Solar Photovoltaic Gigafactory that will create solar energy. It targets to achieve costs that are lowest in the world to ensure affordability of our solar modules. Besides this, Reliance has started work on developing the Dhirubhai Ambani Green Energy Giga Complex on 5,000 acres in Jamnagar in Gujarat. “It will be amongst the largest such integrated renewable energy manufacturing facilities in the world,” Ambani said.</li></ul><ul><li>Reliance looks to boost its E&amp;P business: “In our E&amp;P [exploration and production] business, BP and Reliance commenced production in the KGD6 basin. Our JV brought two of our three toughest deep water gas projects to production. This has been accomplished in record time and set a new global benchmark for capital costs… This will establish Reliance again as one of the largest domestic producers of gas in India, meeting 20 percent of India's gas demand. E&amp;P will again be a source of significant value and sustained earnings growth over the next decade,' Ambani said.</li></ul><ul><li>Google and Reliance have announced a new 5G partnership today at the AGM: “As a part of these collaborations, Reliance will also shift its core retail businesses to Google cloud infrastructure. They will be able to take advantage of Google’s artificial intelligence (AI) and machine learning (ML), e-commerce and demand forecasting offerings. Harnessing the quality and performance of Google Cloud will enable these businesses to scale up as needed to respond to the customer demand. Empowering businesses as they embark on their digital journeys, is a key part of our mission in India. I am excited for the innovation this partnership will help unleash.”</li></ul><ul><li><keyword id="2003276" type="PERSON" weightage="20" keywordseo="Jio">Jio</keyword>Phone Next, a 4G smartphone developed by Jio and Google, will be available in India from September 10. “JioPhone Next is a fully featured smartphone supporting the entire suite of applications from both Google and Jio,” Ambani added.</li></ul>Here is a full list of highlights from <keyword id="3820" type="PERSON" weightage="20" keywordseo="Mukesh-Ambani">Mukesh Ambani</keyword>’s virtual address at Reliance Industries’ AGM: <ul><li>“Jio became the first operation, outside of China, to achieve 400 million subscribers,” said Ambani.</li><li>Reliance Industries conducted 6.8%, or ₹1,45,143 crore, of India’s total merchandise export across 107 countries.</li><li>The company paid ₹21,044 crore for customs and excise duty. About ₹85,306 crore as goods and services tax (GST) and value added tax (VAT). Nearly, ₹3,213 crore as income tax.</li><li>Reliance added 75,000 new jobs in the financial year 2021.</li><li>Reliance Retail’s growth to triple in the next 3-5 years: “We are committed to grow our business so that we are among the top 10 retailers globally. I am confident that Reliance Retail is on a hyper growth trajectory to grow at least 3x in the next 3-5 years.”</li><li>“Today, Reliance is producing over 11% of India’s medical grade liquid oxygen,” <keyword id="7024" type="PERSON" weightage="20" keywordseo="Nita-Ambani">Nita Ambani</keyword>, a director of RIL, said in her address during the AGM.</li></ul>SEE ALSO: <h1 style="margin-bottom: 10px; padding-bottom: 15px; border-bottom: 1px solid rgb(238, 238, 238); font-variant-numeric: normal; font-variant-east-asian: normal; font-stretch: normal; font-size: 1.6rem; line-height: 1.2em; font-family: LabGrotesque-Black, Helvetica, Arial, sans-serif; vertical-align: baseline; color: rgb(17, 21, 22); background-color: rgb(255, 255, 255);"><a href="https://www.businessinsider.in/tech/mobile/news/jiophone-next-smartphone-announced-check-out-features-launch-date/articleshow/83806398.cms" data-type="tilCustomLink">Reliance announces JioPhone Next smartphone in partnership with Google – available from September 10</a> <a href="https://www.businessinsider.in/tech/news/jio-google-5g-announcement-google-cloud-reliance-retail-jiomart/articleshow/83807617.cms#:~:text=Jio's%20networking%20prowess-,Jio%20and%20Google%20come%20together%20for%205G%2C%20leveraging%20Google's,expertise%20and%20Jio's%20networking%20prowess&amp;text=Reliance%20will%20use%20Google%20Cloud,Android%20smartphone%2C%20the%20JioPhone%20Next." data-type="tilCustomLink">Jio and Google come together for 5G, leveraging Google’s cloud expertise and Jio’s networking prowess</a> <a href="https://www.businessinsider.in/tech/news/google-insiders-say-theyre-unhappy-with-its-risk-averse-style-as-the-company-grows-with-36-vps-quitting-in-a-year/articleshow/83748221.cms#:~:text=Google%20insiders%20say%20they're,VPs%20quitting%20in%20a%20year&amp;text=The%20New%20York%20Times%20found,shut%20down%20%22vanity%20projects.%22" data-type="tilCustomLink">Google insiders say they're unhappy with its risk-averse style as the company grows, with 36 VPs quitting in a year</a></h1>

Reliance Industries’ AGM — Mukesh Ambani officially announces Saudi Aramco as strategic partner

<ul><li><keyword id="3820" type="PERSON" weightage="20" keywordseo="Mukesh-Ambani">Mukesh Ambani</keyword>'s <keyword id="6355199" type="COMPANY" weightage="20" keywordseo="reliance-industries">Reliance Industries</keyword> on Sunday said it has secured ₹730 crore from wireless technology leader <keyword id="104695" type="CITY" weightage="20" keywordseo="Qualcomm">Qualcomm</keyword></li><li>With this deal, Reliance has sold 25.24% stake in <keyword id="2003276" type="PERSON" weightage="20" keywordseo="Jio">Jio</keyword> Platforms Ltd - the unit that houses India's youngest but largest telecom firm Jio Infocomm and apps. </li><li>In total, Jio has raised ₹1,18,318.45 crore. </li></ul>Billionaire Mukesh Ambani's Reliance Industries on Sunday said it has secured Rs 730 crore from wireless technology leader Qualcomm by selling a small stake in its technology venture, adding to a slew of investments since April that has crossed Rs 1.18 lakh crore. "<keyword id="192167" type="CITY" weightage="20" keywordseo="Qualcomm-Ventures">Qualcomm Ventures</keyword>' investment will translate into 0.15 per cent equity stake in Jio Platforms on a fully diluted basis," the company said in a statement. The investment, the company said, will deepen the ties with Qualcomm that will help Jio rollout of advanced 5G infrastructure and services in India. With this deal, Reliance has sold 25.24 per cent stake in Jio Platforms Ltd - the unit that houses India's youngest but largest telecom firm Jio Infocomm and apps. In total, Jio has raised Rs 1,18,318.45 crore. Qualcomm, which is the 12th marquee firm to have set a sight on India's hottest digital play in as many weeks, values Jio Platforms at Rs 4.91 lakh crore, the statement said. Proceeds from the stake sales in Jio Platforms along with the Rs 53,124 crore raised in a rights issue in June and from sale of a 49 per cent stake in its fuel retail network to BP last summer for Rs 7,000 crore, will help the company become net debt-free, Reliance announced last month, once the promised funds come in (75 per cent of the funds from the rights issue will come in next year). As of March, Reliance had a net-debt of over Rs 1.6 lakh crore. Qualcomm is the world's leading wireless technology innovator and the driving force behind the development, launch and expansion of 5G. Mukesh Ambani, Chairman and Managing Director of Reliance Industries, said, "Qualcomm has been a valued partner for several years and we have a shared vision of connecting everything by building a robust and secure wireless and digital network and extending the benefits of digital connectivity to everyone in India". "As a world leader in wireless technologies, Qualcomm offers deep technology knowhow and insights that will help us deliver on our 5G vision and the digital transformation of India for both people and enterprises," he said. Steve Mollenkopf, CEO of Qualcomm Incorporated, said, "With unmatched speeds and emerging use cases, 5G is expected to transform every industry in the coming years". "Jio Platforms has led the digital revolution in India through its extensive digital and technological capabilities. As an enabler and investor with a longstanding presence in India, we look forward to playing a role in Jio's vision to further revolutionise India's digital economy," he said. The transaction is subject to customary conditions precedent. Morgan Stanley acted as financial advisor to Reliance Industries and AZB &amp; Partners and Davis Polk &amp; Wardwell acted as legal counsels. Trilegal acted as legal counsel for Qualcomm Ventures. The Jio Platforms deal spree began on April 22 when social networking giant Facebook agreed to acquire 9.99 per cent for Rs 43,573.62 crore. Since then, six US private equity firms invested in Jio: Silver Lake Partners bought 2.08 per cent for Rs 10,202.55 crore, Vista Equity Partners paid Rs 11,367 crore for a 2.32 per cent stake, General Atlantic acquired a 1.34 per cent stake for Rs 6,598.38 crore, KKR paid Rs 11,367 crore for a 2.32 per cent stake, TPG bought a 0.93 per cent stake for Rs 4,546.80 crore and L Catterton picked up 0.39 per cent for Rs 1,894.50 crore. Earlier this month, the investment arm of computer chip giant Intel Corp picked up 0.39 per cent stake for Rs 1,894.50 crore. Jio Platforms has also received a funds from the Middle East which started with Mubadala Investment Co which picked up a 1.85 per cent stake for Rs 9,093.60 crore and was followed by Saudi Arabia's sovereign wealth fund, the Public Investment Fund, as well as the Abu Dhabi Investment Authority buying 2.32 per cent and 1.16 per cent stake for Rs 11,367 crore and Rs 5,683.50 crore, respectively. Qualcomm's investment values Jio at Rs 4.91 lakh crore - the same amount as the previous several deals and a 12.5 per cent premium to the first investment by Facebook. Of these deals, the one with Facebook, L Catterton, The Public Investment Fund (PIF), Silver Lake and General Atlantic have closed and the money has flown to Reliance. Jio Platforms - which is also amassing a wide range of services from music streaming to online retail and payments - is expected to use its 388 million mobile phone subscribers as the cornerstone of an e-commerce and digital services business to rival Amazon and Walmart's Flipkart. Jio has become Reliance's growth engine, combining with the company's fast-growing retail arm to help in offsetting the decline in oil and petrochemicals. Ambani had in August last year announced talks for sale of a 20 per cent in the oil-to-chemical (O2C) business to Saudi Aramco for USD 15 billion. However, the recent plunge in oil prices has left that deal under a cloud of uncertainty, although Reliance has said it is on track. ANZ BAL BAL

Qualcomm picks up a 0.15% stake in Reliance Jio for ₹730 crore

<ul><li><keyword id="6354504" type="DEFINITION" weightage="20" keywordseo="reliance-jio">Reliance Jio</keyword>’s growth in subscribers has slowed down this quarter.</li><li>It only added 29 million users in Q2 FY20 in comparison to adding 37 million during the same quarter last year.</li><li>Jio’s ARPU also hit ₹120, dropping for the seventh consecutive quarter. </li></ul>Reliance Industries released its earnings for the current quarter and its digital business, Reliance Jio, seems to be slowing down. Jio’s subscriber base only added 29 million in Q2 FY20. In comparison, Jio added 37 subscribers in the same quarter last year. However, the company is making more money out of its subscribers — the margin for Jio improved by as much as 170 basis points to over 11%. This would be heartening for the investors in RIL. And, even though growth is slowing down, the number subscribers has still grown 7.2% over the last quarter. A report published earlier today by the Telecom Regulatory Authority of India (TRAI) found that Jio was the only telecom operator to add subscribers during the month of August. "It's also a matter of great pride for us to share the fact that Jio is now the second largest single county operator in the world with a subscriber base of 355 billion," said Reliance Industries CFO, Alok Agarwal, during the earnings call. So even though subscriber growth is slowing down for the company, it’s still faring better than Bharti Airtel and Vodafone Idea. 
 
 
 
 
 
 
 
 
 
 
 
 
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 And, Jio’s average revenue per user continues to decline for the seventh consecutive quarter hitting ₹120. Usage continues to growth with the company recording 12 billion GB in data traffic and 813 billion minutes of voice traffic. "Both continue to grow quarter after quarter showing stronger levels of customer engagement on our network," stated Agarwal. 
 
 
 
 
 
 
 
 
 
 
 
 
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 The company reported a net profit grew at a yearly rate of 45.4% hitting ₹990 crore during the quarter. It's operating revenue also grew by 33.7% year-on-year to reach ₹12,354 crore. 
 
 
 
 
 
 
 
 
 
 
 
 
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 See also: <a href="https://www.businessinsider.in/business/corporates/news/top-highlights-from-mukesh-ambani-owned-reliance-industries-rils-quarterly-earnings/articleshow/71651084.cms">Reliance Industries posts a record profit even as refining and telecom verticals soften</a> <a href="https://www.businessinsider.in/business/corporates/news/mukesh-ambani-owned-reliance-industries-forms-pact-with-bp-to-sell-aviation-fuel-in-india/articleshow/71651988.cms">Reliance Industries makes a new pact with BP to sell jet fuel in India</a> <a href="https://www.businessinsider.in/business/news/reliance-industries-retail-q2-earnings-report/articleshow/71651677.cms">Reliance Retail surprises with a sharp growth of 27% despite slowdown</a>

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