KATHMANDU, May 20: The government has appointed Nagendra Sah as the officiating managing director of Nepal Oil Corporation (NOC).
Minister for Industry, Commerce and Supplies Gauri Kumari Sah on Tuesday appointed Nagendra Sah for the position to lead the state-owned oil monopoly. The post has remained vacant after the then NOC’s Managing Director Chandika Prasad Bhatta resigned last week.
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Although Bhatta was not under compulsion to step down under the government’s move to revoke all political appointments, he resigned from the post stating that the decision would assist the government in its work.
Chartered Accountant Sah, who has been working as an employee of the NOC for the past 19 years, has been assigned the new role at a time NOC is facing challenges to manage petroleum supply across the country. The NOC has been facing pressure of depleting financial status due to soaring fuel prices triggered by the ongoing Middle East crisis.
Despite increasing the price of petroleum products multiple times, the NOC is still facing a crisis from surging international crude oil prices and higher procurement costs from the Indian Oil Corporation (IOC). As of April 2026, NOC was reported to be facing monthly losses of billions of rupees even with raising cooking gas price to Rs 2,010 per cylinder and domestic fuel prices reaching peaks.
