Indian Oil Corporation (IOC) is reportedly expected to export 2 million tonnes (mt) of finished products to Nepal in FY18. The company has exported 0.691 mt of finished products to Nepal from April to July this year. Comparably this was at 0.578 mt in the corresponding period of the last fiscal.
Moreover, Indian Oil exported 1.78 mt of finished petroleum products in the financial year 2016-2017. The company is looking at an increase of 5-10 percent in the demand for petroleum products in Nepal, Bhutan and Sri Lanka.
IOC is the largest enterprise in the country and the foremost ranked Fortune Global 500 Company in India and has presence in the complete hydrocarbon value chain from downstream refining & marketing, pipeline transportation, Petrochemicals, E&P and Gas Marketing.