Excelsior Correspondent
NEW DELHI, Mar 27: Today, a new supply agreement was signed by P K Das, Executive Director I/C (Supplies), IndianOil and Gopal Bahadur Khadka, Managing Director, NOC at New Delhi in the presence of Dharmendra Pradhan, Minister of State (Independent Change), Ministry of Petroleum and Natural Gas, Government of India and Deepak Bohara, Minister for Supplies, Government of Nepal along with senior officials from MoP&NG India, Ministry of Supplies of Nepal, Indian Oil Corporation Ltd and Nepal Oil Corporation.
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 current agreement is valid up to 31.03.2017. The supply agreement signed today is for the period April’17-March’22 and will meet the full requirements/ demand and quantities of all the major POL products (MS, HSD, SKO, ATF and LPG).
The new agreement has been made with the concept of “Umbrella Agreement” by keeping provisions of future MoU / Agreement subsidiary to this. Provision for collaboration in new fields like Engineering / Projects / Aviation / Retail / Petrochemicals/ Business Developments/ LPG ventures has also been kept.
Few of the remarkable features of the new Supply Agreement include;
Release of BS-IV grade fuel to Nepal from IndianOil supply points with effect from 1st April 2017 to convert Nepal markets to Green fuel; Meeting major requirements of POL products of Nepal by Pipeline after laying of Patna-Motihari-Amlekganj Pipeline. This pipeline has the flexibility of receiving input from Barauni as well as Haldia Refinery; and NOC may nominate, with prior written advice to IOC, any other supply point to uplift the demanded quantities of POL products.
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