IndianOil and Nepal Oil Corporation have recently signed a B2B Framework Agreement for the development of petroleum infrastructure in Nepal, including pipeline extension and storage terminals.
This deal follows the May 31, 2023, signing of a Government-to-Government (G2G) Memorandum of Understanding (MoU) between India’s MoP&NG and Nepal’s Ministry of Industry, Commerce and Supplies. The G2G MoU was signed in the presence of the Prime Ministers of both countries, signifying the strength of the India-Nepal partnership.
The signing of this B2B Framework Agreement symbolizes the start of a new chapter in India-Nepal’s energy collaboration, cementing the two countries’ long-standing people-to-people relationship.
