Stories Tagged 'Nepal oil corporation'
The government Thursday ordered state-owned Nepal Oil Corporation to launch reforms, improve quality and end financial irregularities, indicating that it had no intention of opening up the lucrative oil business to the private sector.
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Nepal Oil Corporation slashed the price of aviation fuel for domestic carriers by Rs 10 per liter effective from Thursday midnight.
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The government has appointed Surendra Prasad Paudel to lead Nepal Oil Corporation (NOC), the country’s sole petroleum supplier, which has an annual transaction of more than Rs170 billion.
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The Commission for Investigation of Abuse of Authority (CIAA) filed a corruption case at the Special Court on Monday against former Nepal Oil Corporation Managing Director Gopal Khadka on charge of amassing illegal property worth Rs186.6 million.
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Nepal Oil Corporation has not slashed the price of gasoline proportionally with the sharp fall in global oil prices, saying it needs to make up for past losses.  
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Nepal Oil Corporation, which has been without a chief for more than a year, is likely to get a new managing director soon as its line ministry plans to send the names of the three final nominees to the next Cabinet meeting for its approval.
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