Nepal Oil Corporation and IndianOil signed new petroleum supply agreement
at Tuesday, May 1, 2012
NOC, IndianOil seal new fuel supply
(Courtesy: The Kathmandu Post, Nepal, April 30, 2012)
The Nepal Oil Corporation (NOC) and IndianOil on Friday signed a new petroleum supply agreement.
As per the new pact that will be effective until March 31, 2017, the IndianOil will be the sole exporter of refined petroleum products to Nepal for the next five years.
NOC acting Managing Director Suresh Kumar Agrawal and IndianOil General Manager (commercial) R Karandikar signed the bi-lateral pact.
According to NOC, the agreement has scrapped the existing price adjustment factor (PAF), under which IndianOil had been charging 5 percent on LPG, diesel and petrol and 2.5 percent on other petroleum products.
