Vitol to be reinstated if guidelines met: Petroleum Min
Sept 14, 2016 (LBO) - Sri Lanka's Petroleum Minister Chandima Weerakkody said Vitol, the world's largest oil trading firm, will be reinstated as a supplier if …
Petroleum
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Sri Lanka fuel pricing formula accepted in principle: minister
Sept 14, 2016 (LBO) - A proposal for automatic fuel pricing has been accepted in principle, Sri Lanka's Petroleum Minister Chandima Weerakkody said on …
Opinion: Big banks exploit countries like Sri Lanka, probe finds
Sept 07, 2016 (LBO) - Big banks have turned to the powerful worldwide legal system and commandeered it for profit, exploiting countries like Sri Lanka in the …
Lanka IOC mulls expanding Trinco bunkering operations
Sept 01, 2016 (LBO) – Sri Lanka’s IOC, a subsidiary of Indian Oil Corporation, is to expand their existing bunkering operations at Trinco port as the …
LAUGFS Lubricants opens Sri Lanka’s first Tribology Park
Aug 26, 2016 (LBO) - LAUGFS Lubricants has opened Sri Lanka’s first Tribology Park at the BOI Export Processing Park in Nittambuwa, for research and …
Sri Lanka to regulate lubricants, bitumen through PUCSL
Aug 24, 2016 (LBO) –Sri Lanka’s cabinet has approved appointment of the Public Utilities Commission as the regulator of the lubricant industry and bitumen …
Sri Lanka vehicle registrations fall further in July: JB Securities
Aug 16, 2016 (LBO) - Sri Lanka vehicle registrations in July fell in almost every category compared with June, JB Securities said in a research note. Buses and …
Major natural gas reserve found in Indian Ocean: USGS
July 26, 2017 (LBO) - The U.S. Geological Survey (USGS) says it has assisted the Government of India in the discovery of large, highly enriched accumulations …
Sri Lanka’s LAUGFS to resume LPG purchases from Iran
July 25, 2016 (LBO) – Sri Lanka’s listed LAUGFS Holdings says the company is planning to resume import of liquefied petroleum gas (LPG) from Iran. online …
Sri Lanka to resume Iran oil imports; USD251mn oil debt to Iran
July 25, 2016 (LBO) – Sri Lanka is planning to resume oil imports from Iran following the removal of anti-Tehran sanctions, Iran’s petroenergy information …
Malaysia Deputy PM to launch USD30mn lubricant plant in SL
July 21, 2016 (LBO) – Malaysia’s Deputy Premier Ahmed Zahid Hamidi is to visit Sri Lanka today to initiate the ground breaking ceremony of Hyrax Oil Sdn …
CEB Engineers’ Union says back and forth on coal vs LNG wasteful
July 11, 2016 (LBO) - The Ceylon Electricity Board Engineers' Union says a continuous “back and forth” on whether to construct further power plants using …
India in USD27 bln quest for oil as projects restart
June 28, 2016 (LBO) - India is offering global oilfield service providers a 27 billion dollar lifeline as the government aims to cut fuel imports. Stalled …
Sri Lanka may approve two blocks for exploration and drilling: PRDS
June 27, 2016 (LBO) - Sri Lanka could shortly approve petroleum exploration and drilling for two blocks in the Cauvery basin, as bidders in the 2013 licensing …
EOIs called for geophysical surveys off Mannar, Cauvery Sri Lanka
May 23, 2016 (LBO) - Sri Lanka has called for expressions of interest from geophysical exploration companies to conduct gravity, gradiometry and magnetic …
Sri Lanka opts for LNG plant over coal in Sampur: Petroleum Minister
COLOMBO (Reuters) - Sri Lanka will cancel plans for a 500 megawatt Indian-built coal-fired power plant at its strategic eastern port city of Trincomalee and …
Oil drillers bet three-month crude rally nearing end
May 16, 2016 (LBO) - Oil drillers are betting a three-month rally in oil prices is coming towards an end, with inventories running at all-time highs. buy …
Interview: Sri Lanka Petroleum Act to parliament by July
May 11, 2016 (LBO) – The new Petroleum Resources Development Act is expected to bring in far-reaching changes and will be enacted soon, a senior Sri Lankan …
Sri Lanka to build LNG power plant in Kerawalapitiya: Power Ministry
May 06, 2016 (LBO) – Sri Lanka will build a new 300MW Liquefied Natural Gas (LNG) power plant in Kerawalapitiya adjoining the existing power plant there, the …
Sri Lanka wants LNG-driven power, to shift away from coal: Govt official
May 06, 2016 (LBO) - Sri Lanka wants more power generation from Liquefied Natural Gas (LNG), because natural gas is attractively priced in international …