Monday, 28th July 2014

NOC estimated loss drops to Rs 727.8 million for April


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The Nepal Oil Corporation (NOC)-projected loss for the month of April, 2014 has decreased to Rs 727.8 million from Rs 1.22 billion last month.

The monthly loss of the cash-strapped oil monopoly has dropped following the new revised price list sent my Indian Oil Corporation (IOC) on Tuesday.

As per the revised price list, NOC will incur a loss of Rs 4.31 per litre, while it had faced a loss of Rs 6.17 per litre, last month.

However, the state oil monopoly will make profit of Rs 9.42 per litre in petrol and Rs 11.24 per litre in kerosene. Similarly, it will make profit of Rs 36.31 per litre in aviation turbine, an increase from Rs 31 per litre.

Likewise, the loss in the LPG has also dropped by Rs 176 per cylinder to Rs 689.91 as per the revised price list.

IOC, which is the sole oil supplier to Nepal, had sent the revised list some two weeks ago.