Industry, Commerce and Supply Minister Damodar Bhandari has said that if there is no diversification in the business of Nepal Oil Corporation, the existence of the organization may be in crisis.

In a program organized today on the occasion of the 55th anniversary of the corporation, he said that although the corporation is playing an important role in the supply chain of petroleum products, it should not be limited to this.

Minister Bhandari cautioned that there is no longer a situation to be content with just selling oil when new options are being used in the energy sector. 'The use of petroleum products as an essential commodity and its business is in a declining state. It is natural for the corporation's business to decline as new clean energy technologies and their use increase. In such a situation, it is time to think in a new way to find an alternative. A day to enjoy profit by selling only oil  Not much left. Therefore, it is necessary to increase the working area of ​​the organization,' he said. 

Minister Bhandari also instructed the corporation to increase the storage capacity of petroleum products, to make the transportation and distribution system reliable and technology-friendly. He said that the government is prioritizing the issue of using ethanol misfire in petroleum products, subsidizing gas cylinders for household purposes and supplying gas through pipelines.  He also instructed the corporation to speed up the work of shifting the depots of the corporation's Thankot depot, Tribhuvan International Airport and Dhangadi Airport, which are at high risk. Similarly, Industries Minister Bhandari informed that there is a positive report about the presence of petroleum products in Dailekh, while studies are being carried out for petroleum extraction. In the

program, Industry Secretary Krishna Bahadur Raut also pointed out the need to emphasize the expansion of the corporation's capacity and business diversification. He said that the corporation will play an important role in increasing the storage capacity, expanding the pipeline and easy availability of quality petroleum products. Dr. Chandika Prasad Bhatt, executive director of

corporation, said that the corporation's system will be made more technological and organized by using the latest technology in the coming days. He expressed the commitment of the corporation to work in promoting green and sustainable energy sources. The corporation is emphasizing for the trade of goods like bitumen, lubricants, plastic chips, grease, granules. We are working for the development and use of hydrogen energy in collaboration with Kathmandu University. We expect diversification in the corporation's business from such activities,' Executive Director Bhatt said.