Now there will be no shortage of Petroleum product in Nepal

Nepal Oil Corporation (NOC) can now import fuel from third countries as well. The Indian Oil Corporation (IOC), NOC's sole petroleum supplier so far, has given its consent to NOC to bring oil from other countries as well.

As per the agreement, NOC can import fuel from other countries if the IOC is unable to meet NOC's demand for fuel. IOC allowed NOC to purchase fuel from a third country after discussions between the high officials of the two corporations on the renewal of the fuel purchase deal. The previous agreement made it mandatory for Nepal to purchase fuel only from IOC. However, even the new deal says that Nepal can buy only crude oil from other countries that has to be refined in the refineries of IOC. This means Nepal still cannot buy refined oil from other countries.

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