Extended

Mar 25, 2009 (LBO) – Sri Lanka’s Chevron unit said the island’s government has extended the lease on a land where its blending plant was located for a further five years, ending months of uncertainty. The firm was originally the lubricants division of state-run Ceylon Petroleum Corporation (CPC) which was privatized. Chevron Lubricants Lanka Ltd said Sri Lanka’s ministry of petroleum has informed that the cabinet of ministers had approved the extension of the lease, but new commercial terms have not yet been notified.

Chevron Lubricants owns the blending plant but it is located on state land.