Lanka IOC (LIOC) reports profit of Rs490mn for the quarter
January 29, 2020 (LBO) - Colombo Stock Exchange listed Petroleum retailer Lanka IOC (LIOC) has reported a profit of Rs490mn for the quarter ended December 31, …
Petroleum
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Price of Litro brand domestic gas cylinders down
The price of Litro brand gas cylinders has been reduced from midnight today. The prices of 5 Kg and 2.3 Kg LPG gas cylinders too have been reduced accordingly. …
China’s Sinopec sets up fuel oil unit in Sri Lanka
July 16, 2019 (LBO) – China Petroleum and Chemical Corp, Sinopec Corp has launched a fuel oil company in Sri Lanka as it looks to supply fuel to ships along …
Hyrax Oil lubricant blending plant declared open in Muthurajawela
Jun 24, 2019 (LBO) – Prime Minister Ranil Wickremesinghe declared open the Hyrax Oil lubricant blending plant in Muthurajawela today. The is the second of …
Sri Lanka discusses partnership modalities for proposed Oil Refinery with Oman
May 08, 2019 (LBO) – Sri Lankan government has carried out discussions with the Omani counterparts on the possible modalities of strategic partnership in the …
LAUGFS officially inaugurates operations of S Asia’s largest LPG transshipment terminal
May 02, 2019 (LBO) - LAUGFS Terminals Ltd officially inaugurated operations of its LPG transshipment terminal at the Hambantota international Port. It is the …
No fuel price increase this time as people celebrate new year: Finance Ministry
Apr 10, 2019 (LBO) – Sri Lanka's Finance Ministry on Wednesday said that the fuel prices will not be increased this time in order to provide relief to the …
USD3.85Bn oil refinery, cement plant projects launched in Sri Lanka’s Hambantota
Mar 25, 2019 (LBO) - Inaugurating the construction work of the US 3.85 billion dollar oil refinery project and the cement manufacturing plant in …
BOI clarifies news report regarding oil refinery project in Hambantota
Mar 22, 2019 (LBO) - Issuing a statement the Board of Investment of Sri Lanka said they are aware that there is no agreement signed between Oman’s Ministry …
Sri Lanka to discuss draft national policy on LNG
Mar 22, 2019 (LBO) - The Ministry of Highways and Road Development together with Petroleum Resources Development has developed the draft national policy on …
BOI takes to twitter to quell firestorm related to $ 3.85bn refinery project
March 21, 2019 (LBO) - A media firestorm has erupted over a US$3.85bn refinery project that was trumpeted by Sri Lankan government politicians as the largest …
Fuel prices increased; Petrol hiked to Rs.132
Mar 13, 2019 (LBO) - Sri Lanka Government increased the price of petrol (92 Octane) by 3 rupees to 132 rupees a litre and auto diesel by 1 rupee to 104 rupees …
Laugfs unveils second solar-powered fuel station in Sri Lanka
Feb 27, 2019 (LBO) - Setting another benchmark in the fuel retailing industry in Sri Lanka, Laugfs Southern Petroleum launched the country’s second …
Fuel prices increased but no room to increase transport charges: Finance Ministry
Feb 11, 2019 (LBO) – Government today revised the fuel prices and accordingly the prices of one liter of Petrol Octane 92 and the Auto Diesel have been …
Govt calls for exploration bids in block M2, Mannar Basin
Jan 18, 2019 (LBO) - Sri Lanka's government has called for international competitive bids for exploration and development activities in Block M2, Mannar …
Fuel prices to be reduced fourth straight time from midnight
Jan 10, 2019 (LBO) – Sri Lanka's government has decided to reduce the Petrol and Diesel prices by 2 rupees per liter each with effect from midnight today. …
Laugfs Gas to infuse Rs1.1bn for expansion of its LPG Transshipment Terminal
Dec 27, 2018 (LBO) – Laugfs Gas will infuse 1,150 million rupees for the expansion of its LPG Transshipment Terminal facility located at Hambantota …
Hayleys Energy commences first oil and gas drillship lay-up at Hambantota, Sri Lanka
Dec 17, 2018 (LBO) - Sri Lanka's Hayleys Energy Services announced the arrival of the oil and gas drillship “Aban Abraham” for a warm lay-up to the …
Sri Lanka lubricant market share shifting: Report
Nov 21, 2018 (LBO) - Sri Lanka's lubricant market dynamics are shifting with market share of Chevron and Indian Oil dipping, a new report shows. According to …
Mahinda Rajapaksa says fuel price to be further reduced tonight
Nov 15, 2018 (LBO) - In a special statement in Parliament Mahinda Rajapaksa said fuel price will be further revised tonight. "It is only in Sri Lanka the fuel …