Nepal Oil Corporation Limited (NOC) ( is a monopoly state owned trading enterprise of Nepal that imports, stores and distributes various petroleum products in the country. In Nepal, no private or other companies are allowed to import Petrol and Diesel other than NOC.[2] It was established on 2027 Poush 26 by the Government of Nepal under the "Company Act, 2021 (1964)". The government owns 99.46% of its share and rest is contributed by four other state owned enterprises: Rastriya Beema Sansthan,[3] National Trading Ltd., Nepal Bank Ltd. and Rastriya Banijya Bank.
History
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. 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.