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 …
Petroleum
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 …
Maximum Fuel Retail Price to be stipulated; Sinopec’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 …
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. …
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 …
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 …
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 …
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. …
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 …
Selection of new entrants for Sri Lanka’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 …
Sri Lankan industry leaders explore sustainable energy future
Leaders from across the industry, civil society, finance and academia met in Colombo recently to explore short and long-term energy solutions amidst Sri …
Dialog Enterprise unveils a cutting-edge fuel-monitoring system
Dialog Enterprise, the corporate ICT solutions arm of Dialog Axiata PLC, recently unveiled a timely technological solution for monitoring and measuring fuel …
Cabinet nod to present Petroleum Products Amendment Bill in Parliament
In order to ensure the continuous supply of petroleum products due to the acute foreign exchange deficit currently existing in the country, the cabinet decided …
Sri Lanka introduces QR-based National Fuel Pass to manage fuel usage
The Ministry of Power & Energy today introduced the National Fuel Pass allowing the general public to purchase a guaranteed quota of fuel per week. …
New insights into SL’s Cauvery and Mannar Basins from FTG and aeromagnetic data
Bell Geospace, the world leaders in gravity gradiometry, has conducted the first aerial mapping of petroleum resources in Sri Lanka in Q4 of 2021, and will be …
Fitch Ratings Raises its Oil and Gas Price Assumptions
Fitch Ratings has increased its oil and gas price assumptions due to trade flows disruptions and redirection and higher post-pandemic demand. Fitch Ratings …
Cabinet approval to introduce new mechanism to decide monthly fuel prices
A committee consisting of representatives of the Ministry of Power and Energy and other relevant agencies will be appointed to make recommendations to …
India provides fresh loans to purchase petroleum products
In view of the prevailing economic situation in the country, a short term loan facility of US $ 500 million with the assistance of the India Export-Import Bank …
PUCSL files FR petition against CEB, CBSL, Finance Ministry & Power Minister
The Public Utilities Commission of Sri Lanka - the electricity sector regulator, filed a Fundamental Rights petition in the Supreme Court today (1st April …
Indian Exim Bank pledges USD 500mn Credit Line to Sri Lanka for financing oil imports
Export-Import Bank of India has entered into an agreement with Sri Lanka, to support a USD 500 million Credit Line for the purpose of financing purchase of …