Category: Petroleum
India’s top Lube brand Hindustan Petroleum Lubricants arrives in SL with Sea World Lanka
Hindustan Petroleum Lubricants markets more than 450 grades of Lubricants/Greases and caters to many global auto OEMs To offer full range of premium and world class Automotive, Industrial and Marine Lubricants and specialty products Sri Lanka’s lubricants market has been significantly strengthened with the formal entry of HP Lubricants, part of Hindustan Petroleum Corporation Limited […]
‘s First State Visit to China
During President Anura Kumara Disanayake’s four-day state visit to China, Sri Lanka marked a significant milestone by securing the largest foreign direct investment to date, the President’s Media Division said. This achievement was formalized this morning (16) with the signing of an agreement between Sri Lanka’s Ministry of Energy and Sinopec, a leading Chinese international […]
Sri Lanka Uses Tea Exports to Payoff USD 55mn of USD 251mn Iran Fuel Debt – Tea Board
Under the Memorandum of Understanding between Iran and Sri Lanka, Sri Lanka commenced the repayment of its USD 250.9 million fuel debt to Iran through tea exports. “As per the agreement, Sri Lanka aims to settle this debt through tea exports. To date, Sri Lanka has repaid USD 55 million of this debt,” Sri Lanka […]
CPC Management Discuss Implementation Timeline for Reforms
A discussion on the timeline and process for implementing the reforms took place with the senior management of CPC and Refinery yesterday. “The CPC current approved carder & salary structure will also be revised & digital platforms will be introduced for multiple functions & services,” Power and Energy Minister Kanchana Wijesekera said. “Under the CPC […]
‘s first fuel shipment to arrive in Aug
The first fuel shipment of China’s Sinopec, which signed a contract to enter the Sri Lankan fuel market, will arrive in the country early next month, State Minister of Power and Energy D. V. Chanaka stated. Meanwhile, steps will be taken to replace the fuel price formula with a maximum retail price, thereby creating a […]
Sri Lanka signs agreement with RM Parks Inc to ensure uninterrupted fuel supply
In a bid to address the foreign exchange crisis in Sri Lanka and ensure a steady supply of fuel, the Ministry of Power and Energy has taken decisive action. Accordingly, an agreement was signed today at the Presidential Secretariat, between the Government of Sri Lanka and RM Parks Inc., a prominent international company operating in […]
Sri Lanka signs contract with Sinopec to secure a continuous fuel supply
The signing of an agreement with Sinopec, a leading international petroleum company, ensuring a stable and continuous supply of fuel for Sri Lanka took place this morning (22) at the President’s Office. Secretary of the Ministry of Power and Energy Mapa Pathirana and Chen Chengmim, Managing Director of the Fuel Production and Marketing Department of […]
Fuel quota increased from midnight today
President Ranil Wickremesinghe has directed the government to take steps to increase the existing fuel quota from midnight today (04) for the New Year festive season. As previously planned, the Ceylon Petroleum Corporation has ordered and received the required stocks for the increasing fuel requirement for the festival season. Accordingly, the fuel quota for passenger […]
CDS signs up with Lanka IOC to act as Registrar
The Central Depository Systems (CDS), a fully owned subsidiary of the Colombo Stock Exchange (CSE), recently signed a service agreement with Lanka IOC PLC as the registrar for Lanka IOC PLC, with effect from 01st of January 2023. Lanka IOC PLC, with a corporate history spanning 20 years, is the only private sector auto fuel […]
Sri Lanka agrees in principle on a renewable energy framework with India
India’s External Affairs Minister Dr. S. Jaishankar today announced that Sri Lanka and India have agreed in principle on a renewable energy framework. Dr. Jaishankar said that India will encourage greater investments in the Sri Lankan economy, especially in core areas like energy, tourism, and infrastructure, and count on the Government of Sri Lanka to […]
Establishment of an export-oriented petroleum refinery in Hambantota
The Cabinet of Ministers has approved a proposal presented by the Minister of Power and Energy to call for expressions of interest to select a suitable investor for the establishment of a petroleum refinery near Hambantota. It has been identified that there is a high potential for the establishment of an export-oriented petroleum refinery and […]
‘s lubricant market liberalization
The cabinet has approved a proposal presented by the Minister of Power and Energy to call for applications requesting qualifications to select new entrants to the lubricants market in order to provide the opportunity for high-quality, innovative and competitive products to enter the Sri Lankan market. The Ceylon Petroleum Statutory Corporation Act No. buy cenforce […]