BPCL, Matrix Marine to form 50:50 JV in Singapore

New Delhi, Sept 19 (UNI) PSU major Bharat Petroleum Corporation Ltd (BPCL) today said ii will form a 50:50 joint venture (JV) company with US-based Matrix Marine Fuels LLC in Singapore.

The board of BPCL at its meeting held today approved the proposal of formation of JV Company with Matrix Marine Fuels LLC in Singapore (primarily for expanding bunkering business) with equal participation by both the companies, a company statement said.

Matrix Marine Fuels is in the bunker-fuels business, including marketing, operations, supply, and administration. Its customers include shipping agents, charter carriers, shipping companies, and agents.

UNI