NOC projected loss mounts to Rs. 1.62 billion
The Nepal Oil Corporation (NOC)’s projected loss for September stands at Rs. 1.62 billion, following a rise in the price of the crude oil in the international market.
This is the highest estimated loss for the corporation so far in 2013.
According to the new price list sent by the Indian Oil Corporation (IOC), NOC will incur a loss of Rs. 628 a cylinder in LPG, Rs. 13.90 per litre in diesel and Rs. 0.99 paisa per litre in petrol at the present prices set in Nepal.
The corporation had suffered a loss of Rs. 523 a cylinder in cooking gas, Rs. 9.31 per litre in diesel and Rs. 0.90 paisa a liter in petrol in August. In total, the state owned oil monopoly had incurred a loss of Rs. 1.06 billion in last month.
However, NOC will make profit of Rs. 2.10 in a liter in kerosene, Rs. 21.30 in aviation fuel for domestic purpose and Rs. 21.58 for foreign purpose in this month.
It is estimated that Nepal will import 1.40 million LPG cylinders, 18,000 kilolitres of petrol and 68,000 kilolitres of diesel in September. nepalnews.com