For immediate release
Pi Global Group and Fox Petroleum Limited enter strategic partnership
Fox Pi Petroleum LLC wins Indian government contract
London, 04 November 2014: Multi-industry company, Pi Global Group, and Indian oil group, Fox Petroleum FZC, have entered a partnership to form Fox Pi Petroleum LLC. Fox Pi has been awarded its first contract to supply Indian government-owned refineries with crude oil at a value of $200 million a month.
Fox Pi will supply crude and refined products to the Indian sub-continent with a particular focus on India but potentially including other Southern Asian countries such as Pakistan and Bangladesh. The group has also embarked on a landmark LNG Floating Storage Regasification Unit (FSRU) in India.
Fox Petroleum and Pi Global Group’s products and services perfectly complemented each other and the combined group have assets of USD9.5 billion. Fox Petroleum Limited is a leading Indian oil & gas company. Its activities range from oil exploration to commodities trading with clients such as the Indian government. Pi Global Group has extensive skills and knowledge of the African and European oil & gas refining and commodities markets.
Ajay Kumar, CEO of Fox Petroleum Limited, says: “Working as a member of the Pi Global Group brings us nearer to our aims for expansion. Working with people dedicated to their craft based in geographically well-placed London brings us closer to the West whilst the ingenuity of Robert and Pi Global as a whole shows they mean business.”
Robert Amamize, Chairman and CEO overall of Pi Global Group, adds: “This partnership represents more than good business. It shows a congruence of ideas, as Ajay and his team understand oil & gas in a way that is both intensely intuitive not to mention progressive We are very pleased that our company Fox Pi is in the process of supplying crude oil to the Indian government and we look forward to many more deals in the future.”
ENDS
For more information, please contact:
Rachel Batsa
Pi Global Group
T: +44 (0) 20 7060 1256
About Pi Global Group
Based in the UK Pi Global Group is a group of companies consisting of over 2000 employees globally with interests in the energy market with Pi Petroleum, capital investment in the form of Pi Investments and the luxury markets in the form of brands such as GC Club, it’s luxury lifestyle management brand.
About Fox Petroleum Limited
Fox Petroleum Limited is an associate company of Fox Petroleum FZC based in United Arab Emirates with interests in the oil & gas sector including power generation and distribution. It is head quartered in New Delhi, India with offices in UAE, the UK and USA.
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