Indian Oil Corporation will increase fuel supplies to Nepal
Nepal has signed a deal with China for supply of petroleum products to tide over acute fuel shortages caused by the blockage of land routes from India
Indian Oil Corporation (IOC), the nation’s largest fuel retailer, said on Thursday that it would expand supply of petroleum products to Nepal. This came a day after Nepal’s government-owned petroleum company signed an agreement with China to tide over the acute fuel shortage caused by the blockage of border points with India, due to protests by local communities.
“We have a four-decade agreement with Nepal. Supplies have come down recently as a few routes are blocked but we are continuing to supply to them and are hopeful of increasing supplies once the protests subside,” IOC Chairman B Ashok told Business Standard.