Nepal Oil Corporation Limited (NOC) was established on 10^th January 1970 by the Government of Nepal under the "Company Act, 2021 (1964)" as a state owned trading enterprise to deal with the import, storage and distribution of various Petroleum Products in the country. Government of Nepal owns 98.36% of its share and rest is contributed by four other state owned enterprises, namely Rastriya Beema Sansthan, National Trading Limited, Nepal Bank Ltd. and Rastriya Banijya Bank. Shareholders Chart

In the very beginning, the trading activities of NOC was started by storing two products in two drums under the leadership of Late Mr. Subarna Bikram Thapa appointed by Government of Nepal. His persistent endeavor to develop NOC had resulted more than 30,000 Kilo Liters (KL) of storage facilities for petroleum products in different development regions of Nepal.

Nepal, being one of the land locked countries of the South-Asia, has to depend on India for the supply and distribution of various petroleum products as the eastern, southern and western part of the country is attached with India. The prospect of crude oil exploration in Nepal has not yet been proved a feasible one. So the entire national demand is met by import alone. From the very beginning of NOC's trading activities, a special and long-term supply arrangement is made with Indian Oil Corporation Ltd. (IOC), a leading national oil company of India having more than 55% of market share.

NOC headquartered in Kathmandu, has over the years expanded and now has 5 regional offices, Branch Offices, Fuel Depots, Aviation Fuel Depots, with total existing storage capacity of 70309 kilolitres (KL) and employing 440 permanent work force.

The highest policy making and controlling body of NOC is its Board of Directors. The Board is represented by all the shareholders.

Currently the Chief Executive Officer (CEO) of NOC is the Executive Chairman who has the overall responsibility for day to day operations besides the Chairmanship of NOC Board. The operations of NOC are coordinated and executed by three divisions, each headed by Deputy Managing Director.

Vision of an integrated oil energy corporate body under the national leadership with a strong commitment to meet people's expectation maintaining ecological balance.

Mission to generate/develop/establish a strong corporate identity as a premier energy supplier to the people for their utmost satisfaction.

Objectives

• To manage for the import of petrol, diesel, kerosene, lubricants, grease, aviation fuel, etc. and other oils from different countries of the world.
• To complete the job mentioned in clause (1), manage for necessary place and technical assistance for the construction of storage tanks.
• To obtain the sole agency and distributorship of different countries for the marketing of petroleum products in Nepal.
• Import crude oil from different countries and refine the crude oil either in association with other foreign oil companies or setup own refinery.
• To setup industries for the exploration of oil and gas reserves of the country.
• To manage for the storage facilities of imported petroleum products in the country.
• To manage the supply & distribution of petroleum products in the country either by own arrangement of tank trucks or through private parties as per the requirement.
• To work on the other supporting activities required to fulfill the objectives of NOC.
• To establish other subsidiary companies and invest either in and or the business.