The Indian Petroleum Industry: Towards Branded Fuels |
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As petrol and diesel had traditionally not been seen as categories with much scope for product differentiation, branding of these products came as a welcome change. 4] IBP was first incorporated as Indo-Burmah Petroleum in the Burma (now Myanmar) in 1909. The company became a subsidiary of IOC in 1970. The government acquired IOC's stake in 1972 and IBP was established as a separate public sector enterprise. It was classified as an independent oil marketing company in 1989. In 2002, IOC acquired a 33.58% stake in IBP. The principal business of IBP is the storage, marketing and distribution of petroleum products. |
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