In a surprise move, business rivals Gautam Adani and Mukesh Ambani have strategically tied up to collaborate in the energy sector. Mukesh Ambani-owned Reliance Industries venture Jio-bp and Adani Total Gas Ltd announced a mutual agreement on 25th June 2025.
This deal is important as major private players like Torrent Power earlier and now Adani and Ambani are paving the way to enter and reshape India’s government-dominated fuel market. Jio-bp, the fuel venture of Reliance Industries, is already in partnership with the UK’s bp. ATGL, Adani Total Gas Ltd, is a joint gas venture between the Adani Group and Total Energies of France.
In this agreement, select Jio-bp-owned fuel stations will install Adani Total Gas’ CNG (Compressed Natural Gas) stations in their outlets; similarly, select Adani Total Gas stations will install Jio-bp’s petrol and diesel dispensers in their outlets. According to a joint statement reported by PTI, the partnership will span both existing and upcoming outlets of both companies, and it aims to “redefine the auto-fuel retail experience for Indian customers”. There are a total of 1,972 petrol pumps operated by Jio-bp in India, whereas Adani Total Gas Limited has 650 CNG outlets in India. This agreement is also said to cover collaboration on compressed biogas, electric vehicle charging points and other low-carbon fuel solutions, the companies said.
Last year in March, the two business conglomerates had signed a pact for their first-ever collaborative power project in Madhya Pradesh. Reliance Industries had bought a 26% stake in Adani’s power project in Madhya Pradesh.
Suresh P. Manglani, Executive Director and CEO of Adani Total Gas Ltd, said in an official statement, “It is our shared vision to provide a complete range of high-quality fuels at our outlets. This partnership will enable us to leverage each other’s infrastructure, thus enhancing customer experience and offerings.” Chairman of Jio-bp, Sarthak Behuria, said, “We are united by a shared vision to offer our customers a superior selection of high-quality fuels. Jio-bp has always been committed to delivering an exceptional customer experience, and this partnership allows us to leverage each other’s strengths to further enhance the value we provide to India.”
Gautam Adani and Mukesh Ambani, both hailing from the state of Gujarat, have always been viewed as rivals, ranging from being competitors for Asia’s richest person to competing in the expansion of business in different sectors. Observers have seen this move as strategic. It will be interesting to see how this deal works out in the future.
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