IndianOil inks POL supply agreement with Nepal Oil Corporation -Governance Now

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

Global South: Health cooperation needs institutions to make solutions scalable

September 12 marks the International Day for South-South Cooperation, commemorating the 1978 Buenos Aires Plan of Action (BAPA). Forty-eight years later, its central proposition remains relevant: countries of the Global South can draw on their own knowledge, experience and innovations to address shared d

Reading the mind of Xi Jinping

As India prepares to host the 18th BRICS Summit this weekend, and as prime minister Narendra Modi is set to hold a bilateral meet with president Xi Jinping, China’s growing global influence and the changing dynamics of India-China relations will be under focus. But to understand where China is head

BRICS at 20: From economic weight to global influence

This year marks 20 years of BRICS, with India set to host the grouping’s leaders’ summit this weekend. The anniversary offers an opportune moment to assess BRICS’ growing importance at a time when the effectiveness of global governance and the credibility of multilateralism are under in

Former president Ram Nath Kovind on some of his unforgettable journeys

Triumph of the Indian Republic: My Life, My Struggles By Ram Nath Kovind Rupa Publications, 400 pages, Rs 795 All our presidents so far stand out, each for a different reason. Ram Nath Kovind, the 14th president of India, from 2017 t

Uday Kotak on history, Indian economy, growth and more

Pathbreakers: How 10 Visionary Leaders Transformed India by award-winning journalists By Sucheta Dalal and Debashis Basu Rupa Publications, 304 pages, Rs 695

₹5,000 crore saved from suspected financial fraud

In a significant gain for citizen protection in the digital economy, the Department of Telecommunications (DoT) has helped prevent suspected cyber fraud losses of more than ₹5,000 crore through its Financial Fraud Risk Indicator (FRI) within fifteen months of its launch on May 22, 2025. This money did