IOC to supply Euro IV grade fuel from next year - Business 360 Business 360

IOC to supply Euro IV grade fuel from next year

Indian Oil Corporation (IOC) will supply Euro IV grade fuel (petrol and diesel) to Nepal from next year, which will reduce the emission level of vehicles in the country. The meeting between IOC and Nepal Oil Corporation (NOC) officials for the review of supply agreement between the two oil corporations recently discussed ensuring smooth supply of the commodity and cooperation in infrastructures and other fields. A six-member IOC team headed by P Harsh Shivaji, Executive Director of Supply and Distribution Department, held discussions with high-ranking officials of NOC. The Supply Agreement between the two oil giants is going to expire next year. In this context, both sides have started discussions for review of the agreement, which will be extended for next five years from March of 2017. During the meeting, both sides discussed the capacity of cross-border petroleum pipeline, which is going to be constructed under assistance of IOC. Initially the pipeline would have capacity to supply 300 kl of fuel per hour. The Indian side has said that they are flexible to expand the supply capacity and has asked NOC to project demand of fuel in Nepal over next 30 years.

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