India and Nepal have renewed the fuel supply agreement between Indian Oil Corporation Ltd (IOCL) and Nepal Oil Corporation (NOC) for another five years.
The renewed agreement is an umbrella document between the two parties which apart from detailing the supply of petroleum, oil and lubricant products and also puts in place an institutional mechanism for cooperation in the areas of additional services and technical assistance.
Supplies to Nepal from India have been meeting the petroleum product requirements since 1974. Both countries are working together for the construction of petroleum product Motihari-Amlekhgunj Pipeline.
Takeaways from above News-
- India and Nepal have renewed the supply agreement of fuel for another five years
- Prime Minister of Nepal is Pushpa Kamal Dahal
- India is supplying fuel to Nepal to meet the petroleum product requirements since 1974
- The currency of Nepal is Nepalese Rupee and capital is Kathmandu.
If you have any other takeaways, do share with us in the comment section
Source- The Hindu