Petroleum

Hedging Option

Sept 14 (LBO) – Sri Lanka is looking at oil futures to hedge against increasing crude prices and control the island’s runway oil bill next year, …

Burning Question

Sept 11, 2006 (LBO) – Oil will feature high on the agenda when Commonwealth finance ministers meet in Colombo, with delegates due to share ideas on how …

Hasty Exit

Sept 04 (LBO) - The government has shelved a bidding round for oil exploration until it sorts out a battle with Norwegian company TGS Nopec to buy up three …

Bigger Bills

Sept 04 (LBO) - Ceylon Petroleum Corporation said Monday that it would jack up fuel prices with effect from midnight Monday, to offset losses made by the state …

Cable Cut

August 30, 2006 (LBO) – The Asian Development Bank has dropped the second loan installment due to Sri Lanka, as the government is reluctant to push ahead …

Minor Slip

August 30, 2006 (LBO) – Dominant lubricant supplier Caltex Lanka Ltd is expecting a marginal drop in volumes this year as intensified fighting in the …

Red Ink

August 29, 2006 (LBO) – Indian fuel retailer Lanka IOC Ltd reported a net loss of 584.0 million rupees for the three months to June on Tuesday, citing …

Top Offers

August 28, 2006 (LBO) – Just over ten foreign and local firms put in bids for a license to market lubricants in Sri Lanka, when offers closed on Monday, …

Oil Options

August 28, 2006 (LBO) – Sri Lanka is trying to terminate an agreement with Norwegian survey company TGS Nopec and buy up three years worth of seismic …

Double Blow

August 18 (LBO) – Mysterious grenade attacks and pricing problems have pushed down sales of the Sri Lankan subsidiary of Indian Oil Corporation, with the …

Not liberal

August 18 (LBO) – Sri Lankan based gas distributor Laugfs, who wants to blend and produce lubricants locally, says conditions for entering the newly …

No Oil

August 01, 2006 (LBO) – Sri Lanka says it may not entertain new investments into expensive oil fired power plants, under a proposed energy policy for the …

On Course

August 01, 2006 (LBO) – Caltex Lanka Lubricants Tuesday reported a 16 percent spike in net profit after tax for the six months ended June this year, on …

Minor Adjustment

August 1, 2006 (LBO) – Sri Lanka's state-owned Ceylon Petroleum Corp has raised fuel prices after a two-month lag to offset a surge in global oil prices, …

And FYI

July 31, 2006 (LBO) – Indian oil retailer Lanka IOC Monday raised fuel prices across the board by 5.00 rupees a litre to keep pace with galloping crude …

Northern Lights

July 31 (LBO) – Sri Lanka has called for interested investors to set up a power plant by end this year, to supply electricity to Jaffna in the …

Back to Mommy

July 27, 2006 (LBO) – Sri Lanka’s cabinet has transferred a third of petroleum assets held by the treasury to the state-run Ceylon Petroleum Corp, …

On the Boil

July 26, 2006 (LBO) – Fears of another fuel shortage were sparked off on Wednesday as the government refused to give in to trade union demands and said …

Breakthrough

July 25, 2006 (LBO) – The Sri Lankan government bought two weeks grace period from petroleum sector trade unions late Tuesday, with fuel stocks expected …

Empty Tank

July 24 (LBO) – An ongoing strike by trade unions at Sri Lanka’s petroleum distribution facility could cripple supplies at fuel sheds, if it …