Two people dead, 12 Navy personnel injured in Kinniya incident

New Fortress to provide Sri Lanka estimated 1.2 million gallons of LNG per day

New Fortress Energy (NFE) is to initially provide Sri Lanka an estimated 1.2 million gallons of LNG per day. NFE will have gas supply rights to the?Kerawalapitya Power Complex?and will initially provide GOSL an estimated 1.2 million gallons per day of LNG (~ 35,000 MMBtu) to supply both the currently operational 310 MW Yugadanavi Power Plant and an additional 350 MW (the Sobadanavi Power Plant) which is expected to commence operations in 2023. The definitive agreement is subject to customary co

09 Mar, 2022

USD being sold at record Rs. 260 by commercial banks

The US Dollar is being sold at a record Rs. 260 by commercial banks in Sri Lanka. A number of commercial banks in Sri Lanka said that the USD was selling at Rs. 260 and buying at Rs. 250. The Central Bank of Sri Lanka had this week decided to allow greater flexibility in the exchange rate. The Central Bank had indicated that it will continue to closely monitor the emerging macroeconomic and financial market developments, both globally and domestically, and will stand ready to take further mea

10 Mar, 2022

Rise in global oil prices to impact fuel imports to Sri Lanka

The rise in global oil prices will impact the importing of fuel to Sri Lanka, Energy Minister Gamini Lokuge said today. He said that fuel stocks purchased under the Indian credit line, is expected to arrive in Sri Lanka after 15th March. Lokuge said said that diesel, petrol and jet fuel will arrive in Sri Lanka after 15th March. However, he said that since global prices have increased the quantity of fuel purchased will reduce. The Minister said that the Government is purchasing fuel at a hi

09 Mar, 2022