Hit by petro crisis, Nepal sends SOS to India

The spectre of the worst fuel crisis ever loomed large over Nepal after the Indian company, the lone one exporting oil to Nepal, reduced petroleum supplies by 40 percent in a bid to pressure the importer, state-owned Nepal Oil Corporation (NOC), to clear old dues.

The NOC owes the Indian firm nearly NRS.6 billion (over Rs.3.7 billion) and the IOC this month refused to send oil until it received about NRS.150 million a month

IndiaNews