Nepal and China has agreed to a framework to import petroleum from China, thus breaking the four decades of supply monopoly from India.
A Memorandum of Understanding was signed between Nepal Oil Corporation (NOC) and China National United Oil Corporation (PetroChina), to this effect in Beijing on 28 October. Ambassador of Nepal to China, Mahesh Maskey, had officially led an 11-member Nepali delegation to strike the deal with Chinese authorities.
As a friendly gesture, China is offering 1,000 metric tonnes petroleum as grant to Nepal to provide relief to Nepal from the current shortage of petroleum. If all the procedures fall in place, Nepal will star receiving petroleum from China within the next three to four weeks.
The tourism industry is hoping that this would ease and solve the lack of petroleum crisis current faced by Nepal due to unofficial blockade declared by India along Nepal-India border.