NOC requests to withdraw the Protest

After the Federation of Petroleum Transporters issued a warning to stop the transportation of petroleum products from Ashwin 1st 2079 BS., Nepal Oil Corporation has asked the Federation of Petroleum Transporters to withdraw the protest program.

The Federation of Shipping Professionals has announced the protest demanding an adjustment on shipping charges and so on.
The Federation of Nepal Petroleum Transportation Professionals has requested all the federation members to stop the petroleum products shipment from all the depots across the country.

On the other hand, the Oil Corporation said, that the corporation has drawn serious attention to the disruption program that has been announced to completely stop the supply system. It also has requested the federation to withdraw the protest while also considering the country’s existing legal system regarding the strike.

Purchase price of petroleum products decreased

Along with the decline in the price of crude oil in the international market, the price of petroleum products purchased by Nepal Oil Corporation from India has also decreased.

According to the reduced prices, since Saturday, the Oil Corporation has purchased petrol at a lower price of Rs 15.76 per liter and diesel at a lower price of Rs 16.56 per liter.

Even though Nepal Oil Corporation purchased petroleum products from India at a reduced price, due to the arrears that the corporation has to pay to the IOC and the long-standing losses, the price of petroleum products will not be adjusted according to the new prices.

Gazprom cuts gas to two energy firms in Denmark and Germany

Denmark has become the fifth country to be cut off from Russian natural gas following the refusal of its biggest power wholesaler Orsted to pay for deliveries in rubles. Supplies to Shell Energy Europe Limited in Germany have also been halted for the same reason.

Russia’s new payment mechanism requires gas buyers from “unfriendly” countries that have placed sanctions on Moscow to open accounts in Russia’s Gazprombank. They can then deposit funds in their currency of choice, which the bank converts to rubles and transfers to Gazprom.

The Russian energy giant recently suspended gas exports to Bulgaria, Poland, Finland and the Netherlands after they refused to comply. According to the Russian Energy Ministry, about two dozen European companies have so far opened ruble accounts. RT

Fuel price gone up by Rs 10 again


Less than a week later, the Nepal Oil Corporation has again increased the price of fuel. The corporation has increased petrol, diesel and kerosene by Rs 10 per liter. According to the new price, petrol will cost Rs 180 per liter and diesel and kerosene Rs 163 per liter.

Similarly, the price of cooking gas has increased by Rs 200 per cylinder. According to the new price, the per cylinder of gas has reached 1800. Oil Corporation has increased the price of fuel saying that the loss has increased. According to the corporation, the new price will be effective from 12 tonight.

Government’s decision to cut fuel budget by 20 percent for government facilities

The government has decided to cut fuel for government facilities by 20 percent due to declining foreign exchange reserves.

According to the Ministry of Finance, various ministries, agencies and public organizations affiliated to the government have to cut 20 percent of the remaining budget on fuel. It has been mentioned that the decision of the government will not be implemented in the case of essential vehicles, vehicles used in local elections and vehicles used for peace and security.
It is also said that the decision taken by the cabinet meeting on April 13 will be implemented till July 16.