In the very beginning, the trading activities of NOC were started by storing two products in two drums under the leadership of the late Mr. Subarna Bikram Thapa.
The prospect of crude oil exploration in Nepal has not yet been proven 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 has existed with Indian Oil Corporation Ltd. (IOC), a leading national oil company of India, having more than 55% of the market share.
[2] NOC, headquartered in Kathmandu, has over the years expanded and now has Seven Provincial offices in every State of Nepal, Three branch offices, two fuel depots, One Petrol Pump, and Ten aviation fuel depots, with total existing storage capacity of 71,558 kilolitres (kL) and employing 872 permanent staffs and other contract work force.
The highest policy making and controlling body of NOC is its board of directors.