Joint Forces

From left: Dr. Fernando Im, Senior Country Economist for Sri Lanka and the Maldives, The World Bank, Hon. Eran Wickramaratne, State Minister, Ministry of Finance and Mass Media, Dr. W A Wijewardana, Former Deputy Governor of the Central Bank of Sri Lanka, Prof. Indralal de Silva, Former (Chair) of Demography, University of Colombo, Prof. Amala de Silva, Department of Economics, University of Colombo at the panel discussion on "Demographic Change in Sri Lanka" moderated by Dr. Ramani Gunatilaka, International Centre for Ethnic Studies.

India’s energy sector currently going through an overhaul might see state owned Bharat Petroleum merge with Indian Oil Corp., with repercussions for Sri Lanka. India’s energy sector currently going through an overhaul might see state owned Bharat Petroleum merge with Indian Oil Corp., with repercussions for Sri Lanka.

Indian news wires on Thursday said that the Indian Petroleum Ministry is studying alternate plans to restructure state owned oil companies.

Among them are plans to merge state owned Bharat Petroleum with Indian Oil Corporation and Oil India and Hindustan Petroleum with Oil and Natural Gas Corporation.

The thinking behind consolidating the sector is to also give Indian companies the critical mass and muscle in bidding for oil projects and for oil exploration overseas.

In Sri Lanka, Bharat Petroleum is the favoured contender for the third player in the sector despite Ceypetco protests, with Indian Oil already retailing fuel here.

With a possible merger, about two thirds of retail fuel channels and assets will be Indian owned, with concerns also being raised of possible non competitive pricing.

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