NOC team leaving for China today
SUJAN DHUNGANAKATHMANDU, Nov 19: China will start supplying petroleum products after a week of signing commercial agreement with Nepal, according to Minister for Commerce and Supplies Ganesh Man Pun.
Minister, who returned from China on Tuesday evening, said Chinese officials have assured him of supplying petroleum products to Nepal after a week of signing the agreement. He also directed officials of Nepal Oil Corporation (NOC) to visit China at the earliest to sign commercial agreement for import of petroleum products.
"They want the commercial agreement to be signed as soon as possible," said Pun.
Though Nepal-China signed framework agreement for petroleum trade last month, commercial trade between the petroleum companies has not been signed yet. NOC had written a letter to Petro China Company Limited (PCCL) on November 3, inviting it to Kathmandu to sign commercial agreement.
Commercial agreement with Petro China will break the monopoly of Indian Oil Corporation (IOC), which has been supplying petroleum products to Nepal for the past four decades, in the Nepali market.
In its letter, NOC proposed Petro China to hold discussion on issues like commercial norms, fuel supply mechanism, routes, fuel rates, supply procedures, and available infrastructures, among others. NOC has also urged China to supply petroleum products from Tatopani customs point instead of Rasuwagadi where trade infrastructure is comparatively weak.
NOC has urged Petro China to deliver LP gas to Kathmandu by using its own bullets, stating that NOC doesn't have any gas bullets. The state-owned petroleum monopolist has proposed China to supply one-third of Nepal's petroleum demand.
NOC OFFICIALSLEAVE FOR CHINA TODAY
Meanwhile, NOC officials say Petro China has invited them to China to discuss on terms and conditions of petroleum trade and sign commercial agreement. "In an email sent on Monday, Petro China has invited us to China to hold final discussions and sign the agreement," Sushil Bhattarai, director of NOC, told Republica, adding, "We are preparing to leave for Beijing on Thursday itself."
Bhattarai, however, said it would be difficult to bring large-sized Chinese gas bullets to Kathmandu.
Stating that he was hopeful of signing commercial agreement this time, Bhattarai said: "Petro China is expected to finalize all terms and mechanism an sign agreement with us.
Though Nepal-China signed framework agreement for petroleum trade last month, commercial trade between the petroleum companies has not been signed yet. NOC had written a letter to Petro China Company Limited (PCCL) on November 3, inviting it to Kathmandu to sign commercial agreement.
Commercial agreement with Petro China will break the monopoly of Indian Oil Corporation (IOC), which has been supplying petroleum products to Nepal for the past four decades, in the Nepali market.
In its letter, NOC proposed Petro China to hold discussion on issues like commercial norms, fuel supply mechanism, routes, fuel rates, supply procedures, and available infrastructures, among others. NOC has also urged China to supply petroleum products from Tatopani customs point instead of Rasuwagadi where trade infrastructure is comparatively weak.
NOC has urged Petro China to deliver LP gas to Kathmandu by using its own bullets, stating that NOC doesn't have any gas bullets. The state-owned petroleum monopolist has proposed China to supply one-third of Nepal's petroleum demand.
NOC OFFICIALSLEAVE FOR CHINA TODAY
Meanwhile, NOC officials say Petro China has invited them to China to discuss on terms and conditions of petroleum trade and sign commercial agreement. "In an email sent on Monday, Petro China has invited us to China to hold final discussions and sign the agreement," Sushil Bhattarai, director of NOC, told Republica, adding, "We are preparing to leave for Beijing on Thursday itself."
Bhattarai, however, said it would be difficult to bring large-sized Chinese gas bullets to Kathmandu.
Stating that he was hopeful of signing commercial agreement this time, Bhattarai said: "Petro China is expected to finalize all terms and mechanism an sign agreement with us.
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