Shell's back after 3 decades!

"We have commissioned our first retail outlet in Bangalore last week," Shell India chairman Vikram S Mehta said.

Shell, which has the licence to set up 2000 petrol pumps in the country, will invest Rs 250 crore (Rs 2.5 billion) in the first phase of its retail network. "We are initially targeting south Indian states," he said but did not give target dates for setting up 2000 outlets.

The company is sourcing petrol and diesel from Mangalore Refinery and Petrochemicals Ltd.