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NOC hikes prices of petro products by Rs 2 per litre

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KATHMANDU — Nepal Oil Corporation has hiked the prices of petroleum products by Rs 2 per litre in petrol, diesel, kerosene effective from Wednesday midnight, official at the NOC said.

The state-owned monopoly , however, has not increased the price of Liquefied Petroleum Gas (LPG).

According to the new revised rate, the petrol will cost now Rs 110 per litre and diesel and kerosene will cost Rs 92.

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However, petrol will cost Rs 109.50 in Dang and Pokhara respectively, likewise, petrol will cost Rs 108.50 per litre all over Nepal except in aforementioned locations.

Similarly, diesel and kerosene will each cost Rs 92 per litre within 15-kilometre distance in Kathmandu Valley and Rs 91.50 per litre in Dang and Pokhara respectively.

The price has been hiked as per the revised rates sent by the Indian Oil Corporation, according to NOC.

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Nepal, Bangladesh sign MoU on energy cooperation

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KATHMANDU — Nepal and Bangladesh have signed a memorandum of understanding for power sector cooperation for intensifying the bilateral engagements for power sector development.

Minister of Energy, Water Resources and Irrigation Barsha Man Pun and his Bangladeshi counterpart Minister of Power, Energy and Mineral Resources Nasrul Hamid have signed the agreement amid a function here in Kathmandu on Friday.

Nepal has identified Bangladesh as a prospective market for hydroelectricity, which is a clean and renewable source of energy.

Nepal then had started talking with Bangladesh on bilateral energy cooperation since the power trade agreement (PTA) was signed with India in 2014.

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Nepal and Bangladesh, after the ‘SAARC Framework Agreement for Energy Cooperation (Electricity)’ among the SAARC member states in November 2014, have seen the prospects of bilateral power cooperation.

But, to execute power trade and power cooperation between the two nations, Nepal and Bangladesh need to hold talks with India as there is power trade between Nepal and India, and also Bangladesh and India.

Bangladesh will require around 34,000 megawatts of power by 2030 to sustain the high economic growth of above seven per cent.

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