News Release Details

IndianOil and Nepal Oil Corporation Sign B2B Framework Agreements for Major Petroleum Infrastructure Development in Nepal
New Delhi 03-Oct-2024

In a significant step toward enhancing bilateral cooperation and energy security, Indian Oil Corporation Limited (IndianOil) and Nepal Oil Corporation (NOC) signed a Business to Business (B2B) Framework Agreement today in presence of Mr. Pankaj Jain, Secretary, Ministry of Petroleum and Natural Gas (MoP&NG), Government of India (GoI) and Mr. V. Satish Kumar, Chairman & Director (Marketing), IndianOil, paving the way for the development of critical petroleum infrastructure projects in Nepal. The MoU was signed by Mr. Senthil Kumar N, Director (Pipelines) holding additional charge of Director (Planning & Business Development), IndianOil and Dr. Chandika Prasad Bhatta, Managing Director, NOC.

This agreement follows the Government-to-Government (G2G) Memorandum of Understanding (MoU) signed earlier between India’s MoP&NG and Nepal’s Ministry of Industry, Commerce and Supplies (MoICS) on May 31, 2023. The G2G MoU was exchanged in the presence of the Hon’ble Prime Ministers of both nations, symbolizing the strength of the India-Nepal partnership.

During the event, Mr. Jain said, “The existing pipeline from Motihari to Amlekhgunj being extended to Chitwan takes care of one part of Nepal, and the upcoming terminal at Jhapa is equally important given the challenges of Nepal being a hill state.” He remarked, “our GDP growth, for any country, will depend on the availability of affordable and reliable fuel. These pipelines will actually be ensuring that.”

Mr. V Satish Kumar, Chairman and Director (Marketing), IndianOil, stated, “We are proud to strengthen the India-Nepal energy partnership through this B2B framework between IndianOil and Nepal Oil Corporation. This collaboration builds upon the success of the Motihari-Amlekhgunj pipeline and paves the way for seamless energy connectivity, enhancing energy security for both nations. IndianOil remains committed to timely execution of these projects and fostering a stronger bilateral relationship.”

The G2G MoU encompasses the extension of the Motihari - Amlekhgunj Petroleum Pipeline (MAPL) — South Asia's first transnational petroleum product pipeline, commissioned in 2019 — to Chitwan, Nepal. Additionally, the MoU covers the construction of oil storage terminals at Chitwan and a new transnational pipeline from IndianOil's facility in Siliguri to Jhapa alongside an oil storage terminal at Jhapa. These projects are expected to transform petroleum logistics between the two countries. These pipelines have been designed to meet the future energy needs of Nepal, with ample storage capacity at both the Chitwan and Jhapa terminals.

The B2B Framework Agreement signed today enables IndianOil and NOC to take up construction on these vital projects. This collaboration is crucial for optimizing the transportation of petroleum products, which will significantly reduce costs for Nepal Oil Corporation by minimizing reliance on tank trucks. Furthermore, the infrastructure is designed for mitigation of handling losses & environmental risks, alleviation of border congestion and strengthening of Nepal’s energy security — especially during natural disasters such as floods and landslides.

The signing of this B2B Framework Agreement marks the beginning of a new chapter in India – Nepal energy partnership.

Shyam Bohra
Executive Director I/c (Corporate Communications, Branding & Coordination)
Indian Oil Corporation Limited

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The term User shall refer to the user who is browsing the site. The term IndianOil shall refer to Indian Oil Corporation Limited. The term Site refers to www.iocl.com owned and monitored by IndianOil.
By using the Site, you agree to follow and be bound by the following terms and conditions concerning your use of the Site. IndianOil may revise the Terms of Use at any time without notice to you. Areas of the Site may have different terms of use posted. If there is a conflict between the Terms of Use and terms of use posted for a specific area of the Site, the latter shall have precedence with respect to your use of that area of the Site.
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All content present on this site is the exclusive property of IndianOil. The software, text, images, graphics, video and audio used on this site belong to IndianOil. No material from this site may be copied, modified, reproduced, republished, uploaded, transmitted, posted or distributed in any form without prior written permission from IndianOil. All rights not expressly granted herein are reserved. Unauthorized use of the materials appearing on this site may violate copyright, trademark and other applicable laws, and could result in criminal or civil penalties. IndianOil is a registered trademark of Indian Oil Corporation Ltd. This trademark may not be used in any manner without prior written consent from IndianOil.
IndianOil does not make any warranties, express or implied, including, without limitation, those of merchantability and fitness for a particular purpose, with respect to any information, data, statements or products made available on the Site.
The Site, and all content, materials, information, software, products and services provided on the Site, are provided on an "as is" and "as available" basis. IndianOil expressly disclaims all warranties of any kind, whether express or implied, including, but not limited to, the implied warranties of merchantability, fitness for a particular purpose and non-infringement.
IndianOil shall have no responsibility for any damage to User's computer system or loss of data that results from the download of any content, materials, information from the Site.
IndianOil may change or discontinue any aspect of its website at any time, including, its content or features. IndianOil reserves the right to change the terms and conditions applicable to use of the Site. Such changes shall be effective immediately upon notice, which shall be placed on the Site.
In no event will IndianOil be liable for damages of any kind, including without limitation, direct, incidental or consequential damages (including, but not limited to, damages for lost profits, business interruption and loss of programs or information) arising out of the use of or inability to use IndianOil's website, or any information provided on the website, or in the Products any claim attributable to errors, omissions or other inaccuracies in the Product or interpretations thereof. Some jurisdictions do not allow the limitation or exclusion of liability. Accordingly, some of the above limitations may not apply to the User.
User agrees to indemnify, defend and hold IndianOil harmless from and against all losses, expenses, damages and costs, including reasonable attorneys' fees, arising out of or relating to any misuse by the User of the content and services provided on the Site.
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IndianOil makes no warranty that: (a) the Site will meet your requirements; (b) the Site will be available on an uninterrupted, timely, secure, or error-free basis; (c) the results that may be obtained from the use of the Site or any services offered through the Site will be accurate or reliable.
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