Nepal Oil Corporation
|
Nepal Oil Corporation logo | |
| Government-owned | |
| Industry | Petroleum |
| Founded | January 10, 1970 |
| Headquarters | Babarmahal, Kathmandu, Nepal |
Area served |
 Nepal |
Key people |
Dr. Chandika Prasad Bhatta , (Managing Director) |
| Products | Petrol, Diesel, Kerosene, LPG |
Number of employees | 543 (2014) |
| Website | NepalOil.com.np |
Nepal Oil Corporation Limited (NOC) (Nepali: नेपाल आयल निगम लिमिटेड) is a state owned trading enterprise of Nepal that imports, stores and distributes various petroleum products in the country. It was established on 1970 by the Government of Nepal under the "Company Act, 2021 (1964)". The government owns 98.36% of its share and rest is contributed by four other state owned enterprises: Rastriya Beema Sansthan, National Trading Ltd., Nepal Bank Ltd. and Rastriya Banijya Bank.
In the very beginning, the trading activities of NOC were started by storing two products in two drums under the leadership of the late Mr. Subarna Bikram Thapa appointed by Government of Nepal. His persistent endeavor to develop NOC resulted in more than 30,000 kilolitres (KL) of storage facilities for petroleum products in different development regions of Nepal.
Nepal, being one of the land locked countries of south Asia, has to depend on India for the supply and distribution of various petroleum products as the eastern, southern and western part of the country is attached with India. The prospect of crude oil exploration in Nepal has not yet been proven a feasible one, so the entire national demand is met by import alone. From the very beginning of NOC's trading activities, a special and long-term supply arrangement has existed with Indian Oil Corporation Ltd. (IOC), a leading national oil company of India, having more than 55% of the market share.
NOC, headquartered in Kathmandu, has over the years expanded and now has five regional offices, branch offices, fuel depots, and aviation fuel depots, with total existing storage capacity of 71,558 kilolitres (KL) and employing 508 permanent and other contract work force.
The highest policy making and controlling body of NOC is its Board of Directors. The Board is represented by all the shareholders.
Currently the Chief Executive Officer (CEO) of NOC is the Managing Director who has the overall responsibility for day-to-day operations besides the Member-Secretary of NOC Board. Basically, the operations of NOC are coordinated under two broad categories of Marketing and Finance cum administration, each headed by Deputy Managing Director.