News

Foreign companies make offers to import and sell fuel in Sri Lanka

28 Aug, 2022

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By Easwaran Rutnam

Several foreign companies have made offers to import and sell fuel in Sri Lanka.

Minister of Power and Energy Kanchana Wijesekera said that 24 company?s from the UAE, Saudi Arabia, USA, China, India, Russia, UK, Malaysia, Norway and the Philippines have submitted proposals for the Expression of Interest (EOI) to engage in the Petroleum Business in Sri Lanka.

The Minister said that a committee has been appointed to evaluate the proposals and finalize the process in 6 weeks.

Expressions of Interest were sought from reputed companies established in petroleum producing countries for the importation, distribution and selling of petroleum products in Sri Lanka on long-term agreements.

The selected company will enter into long-term contracts with the Ceylon Petroleum Corporation (CPC) and ensure the continued supply of petroleum products in Sri Lanka.

New fuel stations and storage terminals will also be established based on the requirement of the selected company. (Colombo Gazette)

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