Petro Move

Mar 25, 2008, (LBO) – India’s Bharat Petroleum says it is looking for opportunities in Sri Lanka’s aviation and retail fuel sectors after launching its ‘MAK’ brand lubricants partnering with a top auto dealer in the island. “We hope that we will also be given an opportunity to enter the main product market which is the petrol and diesel trade,” Bharat Petroleum marketing director S Radhakrishnan, told LBO.

“We are already here in a small way doing some bunkering and now lubricants.”

Bharat Petroleum was one of the bidders for a third share in Sri Lanka’s retail fuel market but the process was abandoned following a change in the country’s economic policy after 2004, which ruled out privatization.

“Aviation, if we are given an opportunity, we would also like to start refueling in Colombo and other air ports,” Radhakrishnan said

“We are waiting an opportunity from the government do that.”

The aviation fuel market is a monopoly of state-run Ceylon Petroleum Corporation, which is also eyed by the Sri Lanka unit of Indian Oil Corporation, which already has a third share of the retail petroleum business in the island.

Lanka IOC has also asked to supply fuel at the planned second international airport