Nepal Oil Corporation makes profit for first time in two years

Kathmandu, Oct 19 : The state-owned Nepal Oil Corporation (NOC) has made profit for the first time in two years after continuous slide in the price of fuel in international market.

Nepalnews quoted NOC spokesperson Mukunda Dhungel as saying that the NOC will now make profit of Rs 18.1 million a month, as per as the price quoted by its sole supplier Indian Oil Corporation (IOC) on October 16.

The price of fuel, which had reached to 147 dollars a barrel (crude oil) six months ago, has now come down to 70 dollars.

Currently, the NOC stands to make profit of Rs 16.37 per liter (petrol), run loss of Rs 1.83 per liter (diesel) and run loss of Rs 7.65 per liter of kerosene.

It stands to make profit of Rs 28 per liter of aviation fuel and run loss of Rs 347 per cylinder of cooking gas.

ANI