Can ownership of petrol pump be transferred?

A petrol pump license cannot be transferred. A license can be surrendered through resignation in case of a sole proprietor or an individual may resign from the dealership of a partnership firm.

Can a petrol pump be sold?

To open a petrol pump business, you must have a good investment capacity to start with. There are two types of charges for opening petrol pumps in India: Rs 12 lakhs for ROs for rural areas and Rs 25 lakhs for ROs in urban areas, though the amount may vary from company to company.

How can I get Bharat Petroleum franchise?

Application Fee for BPCL Retail Outlet

1. Application fee of Rs. 100 in respect of Rural ROs have to be paid, and fee for SC/ST applicant is Rs. 50 in respect of Rural BPCL Retail outlets.
2. For applying for regular ROs application fee, Rs. 1000 have to be paid. Fee for SC/ST category is Rs. 500.

What is the refundable security deposit for rural Ro?

The applicant needs to deposit Rs. 50,000 for Rural IOCL ROs and Rs. 1.5 lakhs for Regular IOCL retail outlets.

How can I transfer my petrol pump licence?

You can’t transfer your petrol pump licence directly. For doing so you have to file for Reconstitution of petrol pump licence. Now to be eligible for reconstitution, your petrol pump should be at least 5 years old and licence should not have been reconstituted for last 5 years (apart from the cases arising from death of proprietorship firm) .

What license is required to run a petrol pump in India?

A license under Petroleum Rules is required for running a petrol pump which is issued by the Petroleum and Explosives Safety Organisation (PESO), a Government of India organisation under the Ministry of Commerce and Industry. Normally, the supplier oil companies viz. IOCL, BPCL, HPCL etc. take this license in their name.

How to reconstitute a petrol pump?

For reconstitution your petrol pump should have a minimum of five year license from your last renewal. Although, there is an exception to this rule, i.e., in case of death of the natural owner. You can apply for the reconstitution at your regional office.

How do I register a private Petroleum Company in India?

Register a firm (Private Limited Company) . It can also be done after final selection by company Check advertisement in newspaper by various companies like hindustan petroleum, Bharat Petroleum, Indian Oil, Reliance Petroleum, Essar Petroleum, Shell Petroleum, etc.