Category: Petroleum
Distributors smuggle Rs10mn worth fuel on the day prices hiked
May 17, 2018 (LBO) – Ceylon Petroleum Storage Terminal (CPSTL) has incurred a loss of around 10 million rupees on the day fuel prices hiked. online pharmacy buy strattera with best prices today in the USA online pharmacy buy abilify with best prices today in the USA buy levofloxacin online https://yourolddog.com/wp-content/uploads/2020/08/png/levofloxacin.html no prescription pharmacy buy […]
Iranian companies to provide tech and engineering services to Sri Lanka
May 14, 2018 (LBO) – Iranian President Hassan Rouhani said that relations between Iran and Sri Lanka will be developed in all fields, stressing that the two countries have reached good agreements in economic fields of mutual interest to both. He said that Iranian companies are ready to provide technical-engineering services to Sri Lanka. “Relations between […]
Sri Lanka to revise fuel price every two months
May 11, 2018 (LBO) – Fuel prices in Sri Lanka will be revised every two months under a new cabinet approved pricing formula, Finance Minister Mangala Samaraweera said. “We will be reviewing according to the Platts Singapore benchmark prices,” he told reporters in Colombo. “This means the price could either increase or decrease.” Sri Lanka […]
Sri Lanka hikes petrol, diesel prices: Cabinet approves fuel pricing formula
May 10, 2018 (LBO) – Sri Lanka has increased the prices of petrol and diesel following a cabinet decision to approve a fuel pricing formula. Petrol (92 octane) will increase to 137 rupees and petrol (95 octane) will be increased to148 rupees. Auto diesel will go up to109 rupees while super diesel will be sold at […]
PUCSL hold public consultation on draft regulatory tools of lubricants
Apr 26, 2018 (LBO) – The Public Utilities Commission of Sri Lanka (PUCSL), shadow regulator of the lubricant industry held a public consultation session on the draft regulatory tools related to quality and price of lubricants, recently. “The necessity of having an effective and independent mechanism for ensuring product quality, fair prices and protecting the […]
‘s CPC receives overhaul to boost efficiency
Apr 19, 2018 (LBO) – The Ceylon Petroleum Corporation’s (CPC) Sapugaskanda Oil Refinery successfully completed a 35-day overhaul and renovation programme recently, aimed to boost efficiency, reliability and productivity of the refinery. The 50-year-old facility,which is the only oil refinery in Sri Lanka, refines imported crude oil to supply 30 percent of the energy demand […]
Cabinet approves proposal to conduct feasibility for India, Japan aided LNG terminal
Feb 28, 2018 (LBO) – Sri Lanka’s cabinet on Tuesday approved a proposal to conduct a feasibility study for the proposed Liquefied Natural Gas (LNG) Terminal and the Floating Storage Regasification Unit (FSRU). Accordingly, Sri Lanka will sign a tripartite MoU with India and Japan soon to conduct a feasibility study. Cabinet has also decided […]
I will never allow substandard oil to unload: Petroleum Minister
Nov 07, 2017 (LBO) – Petroleum Minister Arjuna Ranatunga told Parliament Tuesday that he will never allow substandard oil tanker to unload in Sri Lanka. Ranatunga said even after rejecting the shipment because of substandard oil, the IOC is still keeping their oil tanker in Sri Lankan waters. “IOC ship carrying their order arrived here […]
Govt. may not implement power pricing formula in near-term
Oct 16, 2017 (LBO) – Sri Lanka’s state-owned Ceylon Electricity Board (CEB) may not implement the pricing formula in the near-term, given the political and social implications, a rating agency said. Fitch Ratings said in a rating action that majority of CEB’s electricity tariffs to be below generation cost due to regulated pricing, resulting in […]
Sri Lanka accepts power generation with LNG as policy
Aug 30, 2017 (LBO) – Sri Lanka’s cabinet on Tuesday officially accepted generating electricity with Liquid Natural Gas and providing required infrastructure as public policy. The cabinet appointed a cabinet subcommittee chaired by Special Assignments Minister Dr Sarath Amunugama earlier, at its meeting held on 18th July 2017 to decide the public policy on LNG. […]
‘s Sinosure
Aug 21, 2017 (LBO) – Sri Lanka’s LAUGFS Gas and Standard Chartered have announced the first private sector financing facility supported by China Export and Credit Insurance Corporation (SINOSURE) for the 30,000MT import and export terminal at Hambantota. The liquid petroleum gas (LPG) storage terminals by LAUGFS Terminals Ltd., a subsidiary of LAUGFS Gas PLC, […]
China-Sri Lanka deal on controversial deep water port to be signed on Saturday
By P.K. Balachandran The Sino-Sri Lankan deal over a controversial deep water port in Hambantota in south Sri Lanka, which has been hanging fire since January 2015, will at last be signed here on Saturday. Prime Minister, Ranil Wickremesinghe, told the media here that the agreement with China Merchants Port Holdings Company (CMPort) would bring […]