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Journalism of Courage
Oil and Natural Gas Corporation (ONGC),India’s largest wealth creator, on Saturday began auto fuel retailing by commissioning its first ever petrol pump here.
ONGC is entering into fuel retailing under the brand name Oval — which stands for ONGC Values Ltd, chairman and managing director Subir Raha said at the launch function here.
Oval , which is derived from the Latin word ‘‘ovus’’ meaning smooth, secure and strong, is the first retailer in the country to offer discounts on petrol and diesel.
The inaugural discount is about Re 1 per litre.
Raha said ONGC plans to set up 200-300 outlets which, besides fuel despensing, will also offer consumer conveniences such as utility shopping and coffee shop within the next one year.
Oval will have 1,600 outlets by 2007, Raha said.
