NOC's monthly losses come down

With the decrease in the price of petroleum products in the international market in recent weeks, the volume of monthly losses of the state-owned Nepal Oil Corporation (NOC) has come down to the lowest level in the last one year.

According to NOC, the total monthly losses have come down to Rs 150 million in November. The volume of loss stood at Rs 250 million a month ago. In fact, a year ago the volume of monthly loss was Rs 400 million.

The price of oil at the international market had reached up to US$ 78 per barrel and now it has come down between $58 to 60 per barrel. One barrel is equal to 159 liters.

At present, the NOC is suffering losses worth Rs 6 per liter (in petrol); Rs 5 (in diesel); and Rs 6 (in kerosene). In cooking gas, the NOC is losing Rs 340 per cylinder. nepalnews.com sd Nov 26 06