Reliance and BP Continue Strong Partnership Beyond End of Exclusive Deal – Trust Fuels Ambani’s Oil & Gas Ventures

Reliance Industries and British energy giant BP have decided to keep working together, even after their formal exclusivity agreement has ended. The two companies, who have been partners since 2011, are still focused on oil, gas, and mobility projects in India. According to BP’s outgoing India head, Sashi Mukundan, the partnership is based on mutual trust rather than just contracts.

A Long-Standing Relationship Built on Trust

Back in 2011, BP invested $7.2 billion in Reliance’s oil and gas blocks, particularly in the KG-D6 block, a key contributor to India’s gas production. Despite the official 10-year exclusivity period ending, Mukundan explained that both companies still act like exclusive partners. They have continued to decline offers from other companies and choose to work only with each other.

Expanding Beyond Oil and Gas

Over the years, the partnership between Reliance and BP has grown into new areas such as retail and electric vehicles (EVs). BP has invested more than $12 billion in India across the energy sector. Their joint venture has played a big role in boosting India’s natural gas production. Future plans include more investment in oil and gas exploration projects around the KG-D6 block.

A Strategy for Growth in India

BP’s investment strategy for India focuses on four pillars: resilient hydrocarbons (oil and gas), lubricants, mobility, and renewable energy. They plan to keep exploring oil and gas opportunities, with more investments expected in the coming years. BP’s lubricant brand, Castrol, has been in India for 125 years and is now expanding into products for EVs.

Jio-BP: A Growing Venture in Mobility

The joint venture between BP and Reliance, called Jio-BP, continues to grow in the retail fuel and EV charging space. Jio-BP now operates 5,000 fast-charging points across India, a significant portion of the country’s EV charging infrastructure. The venture also focuses on compressed biogas, CNG, and more mobility solutions.

Looking Toward a Low-Carbon Future

BP is also investing in low-carbon initiatives, supporting startups in renewable energy, and developing its own clean energy solutions. The company’s long-term commitment to India includes expanding its business and technology centers, with plans to open a new center in Bengaluru soon.

A Partnership Beyond Contracts

Mukundan emphasized that the relationship with Reliance goes beyond formal agreements. The two companies have built a strong partnership based on trust, which has allowed them to work closely without relying on contracts. BP remains committed to India’s energy future and plans to continue working with Reliance on future projects.