IndianOil inks POL supply agreement with Nepal Oil Corporation

The supply agreement will meet NOC’s full requirements of all the major POL products, including petrol, diesel, kerosene, aviation turbine fuel and LPG

GN Bureau | March 29, 2017


#POL   #PSU   #IndianOil   #LPG  
A memorandum of understanding for supply of petroleum, oils, and lubricants (POL) products was signed between Indian Oil Corporation Limited (IndianOil) and Nepal Oil Corporation (NOC) in the presence of petroleum minister Dharmendra Pradhan. 
 
The new supply agreement was inked by PK Das, executive director (supplies), IndianOil, and Gopal Bahadur Khadka, managing director, NOC.
 
Supply of POL and LPG products from IndianOil to Nepal Oil Corporation started in 1974 when the first supply agreement was signed. Thereafter, the agreement was renewed periodically. The supply agreement signed today is for the period April 2017 - March 2022 and will meet NOC’s full requirements of all the major POL products, including petrol, diesel, kerosene, aviation turbine fuel and LPG.
 
The new agreement is based on the concept of “Umbrella Agreement” by keeping the provisions of future MoUs / Agreements subsidiary to this. A provision has been kept for collaboration in new fields like engineering, projects, aviation fuelling, retail sales, petrochemicals, business developments and LPG ventures.
 
The salient features of the new supply agreement include, release of BS-IV grade fuels to Nepal from IndianOil supply points with effect from 1st April 2017 to convert Nepal markets to the green fuel and meeting the major requirements of POL products of Nepal by pipeline after the laying of the Patna-Motihari-Amlekhganj Pipeline. This pipeline will have the flexibility to receive products from IndianOil's Barauni & Haldia refineries.
 

Comments

 

Other News

PM Modi leaves for G7 Summit in Italy

In his first foreign visit after taking oath of office for the third time, prime minister Narendra Modi Thursday evening left for Italy to participate in the G7 Outreach Summit. “At the invitation of Prime Minister Giorgia Meloni, I am travelling to Apulia region in Italy to participat

Some market talk, some gossip – learnings over tea at RBI

A Fly on the RBI Wall: An Insider’s View of the Central Bank By Alpana Killawala Rupa Publications, 248 pages, Rs 595  

Coalition politics not expected to impact India’s foreign policy

Prime minister Narendra Modi has strived incessantly to bring laurels and much needed recognition for the nation since May 2014 when he was sworn in as the head of state. The poser which can be deliberated upon is this: What will be the consequential impact of the new era of coalition politics which confro

New govt`s first decision pushes for farmer welfare

The BJP-led NDA government has started its term with its first decision relating to farmer welfare. Narendra Modi took charge of office as prime minister of India for the third time on Monday, a day after he and his colleagues were sworn in by the president of India. In his fi

Narendra Modi takes oath for third term

Narendra Modi made history Sunday evening as he was sworn in by president Droupadi Murmu for a third successive term. Modi thus becomes the first prime minister since Jawaharlal Nehru to have comptered two full terms and beginning a third consecutive term. In the swearing-in c

Modi appointed PM for the third time

Narendra Modi was Friday appointed the prime minister for a historic third time, as president Droupadi Murmu invited him to form the next government. The swearing-in ceremony for the new council of ministers will take place on Sunday. “The President, having satisfied herself on the bas

Visionary Talk: Amitabh Gupta, Pune Police Commissioner with Kailashnath Adhikari, MD, Governance Now


Archives

Current Issue

Opinion

Facebook Twitter Google Plus Linkedin Subscribe Newsletter

Twitter