Petrol Pricing
Dec 05, 2008 (LBO) – The government said it will reduce fuel retail prices from midnight Friday in line with falling global oil prices and ahead of a …
Petroleum
Black Market
Nov 03, 2008 (LBO) – Sri Lanka’s state is operating a black market taking an estimated 54 billion rupees a year in profits and discriminatory taxes …
Still There
Nov 30, 2008 (LBO) – Sri Lanka’s petroleum ministry has not yet been taken over by President Mahinda Rajapaksa, following a court ruling by the …
Tricky Position
Nov 28, 2008 (LBO) – Sri Lanka’s supreme court said petroleum minister A H M Fowzie should be removed, in a case where controversial oil hedges by …
Oil Bets
Nov 28, 2008 (LBO) – Sri Lanka’s supreme court has ordered the state-owned oil refiner, Ceylon Petroleum Corporation (CPC), to suspend …
Hedge Probe
Nov 27, 2008 (LBO) – A team of Sri Lankan ministers is probing an oil hedge that could lose hundreds of millions of dollars to a state-run oil retailer …
Gravy Train
Nov 21, 2008 (LBO) – The Sri Lankan government has increased the customs duty on imported petrol by 10 rupees per litre to 35 rupees from yesterday, a …
Back Tracking
LONDON, November 12, 2008 (AFP) – Oil prices sank under 53 dollars a barrel here on Wednesday, hitting the lowest level since January 2007, as traders …
Zero Sum
Nov 11, 2008 (LBO) – Sri Lanka’s state-run Ceylon Petroleum Corporation is looking at ways to cap losses from hedges that went against it by …
Hold It
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Hedge Bills
Nov 10, 2008 (LBO) – Sri Lanka’s state-run Ceylon Petroleum Corporation (CPC) has already settled a part of its dues on hedging oil contracts and …
Petroleum Credit
Nov 10, 2008 (LBO) – Sri Lanka’s state-run Ceylon Petroleum Corporation owes 1.1 billion dollars in supplier’s credit to Iran on crude bought …
Unstable Policy
Nov 08, 2008 (LBO) – Sri Lanka has defended state manipulation of fuel prices which has de-stabilized the economy, brought high inflation and endangered …
Fuel Costs
Nov 06, 2008 (LBO) – Sri Lankan president Mahinda Rajapaksa said Wednesday the government had slashed retail fuel prices with immediate effect in an …
Nut Cracker
Oct 31, 2008 (LBO) – Profits of Lanka IOC, a unit of India’s IOC fell 83 percent in the September quarter to 109 million rupees amidst high taxes …
Air Raid
Oct 28, 2008 (LBO) – A fire broke out in a key power station in Sri Lanka’s capital Colombo soon after lights were doused on warnings of a Tamil …
Time Travel
EW YORK, October 22, 2008 (AFP) – Crude oil prices careened lower Wednesday after surging US energy reserves highlighted falling demand in a cooling …
Lubricant Lease
Oct 23, 2008 (LBO) – Chevron Lubricants Lanka said Thursday it was seeking to extend the lease on the land on which it has its lubricant plant which runs …
Burst Bubble
LONDON, October 16, 2008 (AFP) – Oil prices slumped further on Thursday, with Brent crude sliding below 68 dollars a barrel to the lowest level for more …
Hissing Noise
LONDON, October 15, 2008 (AFP) – The price of oil slumped below 72 dollars on Wednesday, its lowest level for more than 13 months, as recession fears …