Category: Petroleum

Aug 29, 2011 (LBO) – A Sri Lanka government committee probing the import of substandard petrol which damaged vehicles has recommended payment of compensation to affected motorists. The report by the committee, handed over to petroleum minister Susil Premajayantha Monday, said the fiasco was caused by government officials not following essential procedures for fuel imports, […]

Aug 17, 2011 (LBO) – State-run Russian oil firm Gazprom has visited Sri Lanka for talks on exploring oil off the coast of Mannar in the island’s east the foreign ministry said. A delegation lead by Gulev Veleriy, managing director of Gazprom International had met foreign minister G L Pieris. The visiting team had discussed […]

VIENNA, August 9, 2011 (AFP) – The OPEC group of petroleum exporting countries slightly lowered its forecast Tuesday for 2011 and 2012 crude oil demand, citing concerns for the economic health of developed countries. “Should the situation see further deterioration in the US, then aggregate oil demand will see a further decline this year,” said […]

Aug 02, 2011 (LBO) – Petroleum products imported into Sri Lanka are unloaded and distributed only after they are tested and meet the required standards, a government statement said. “Petrol, diesel, and kerosene are unloaded from the tanker only after carrying out tests and verified by independent surveyors prior to distribution,” Ceylon Petroleum Storage Terminals […]

July 27, 2011 (LBO) – Mc Marine (Pvt) Ltd, a newly incorporated bunkering unit of Sri Lanka’s McLarens shipping group which is planning to cater to ships off the south of the island, has recruited Channa Abeyagunewardena as its chief executive. Sri Lanka started to make greater inroads into bunkering after a state monopoly and […]

July 18, 2011 (LBO) – Sri Lanka’s Hayleys conglomerate has strengthened its bid to provide support for offshore oil exploration work to begin in August by getting required international accreditation on safety and environmental management. Hayleys Energy Services, a logistics provider for the oil and gas industry, said it has got certifications covering quality and […]

July 12, 2011 (LBO) – Sri Lanka’s state-run Ceylon Petroleum Corporation has been asked to pay 162 million dollars to Standard Chartered Bank over oil derivatives it stopped payment on in 2008, according to a judgment by a London court. Extracts from the judgment: SCB Case ¢ SCB’s case is straightforward: it is entitled to […]

LONDON, July 12, 2011 (AFP) – British oil explorer Cairn Energy on Tuesday announced that it had sold 10 percent of its Indian unit to Vedanta Resources for a net cash sum of . 362 billion (978 million euros). India had last month given conditional clearance to the sale of Cairn Energy’s Indian oilfields to […]

July 11, 2011 (LBO) – Cairn India which is exploring for petroleum resources off Sri Lanka has called for proposals for oil spill response equipment and services as it prepares to drill its first well in August this year. The company announcement said delivery of equipment could be either at Colombo or Chennai in south […]

July 07, 2011 (LBO) – Sri Lanka’s government is seeking a new head for the Petroleum Resources Development Secretariat (PRDS), to lead the island’s search for oil and gas resources. The vacancy for the Director General of the Petroleum Resources Development Secretariat has been posted on the website of the organisation, which now comes under […]

July 1, 2011 (LBO) – Long queues of cars have built up around some fuel stations of the Sri Lanka unit of India Oil Corporation after car owners complained of engine trouble after filling up from their competitor. Customers who used petrol sold by state-run Ceylon Petroleum Corporation have complained that they had to replace […]

June 30, 2011 (LBO) – Sri Lanka’s petroleum industries minister has rejected allegations the government imported low quality petrol, saying motorists whose vehicles were damaged had been supplied fuel contaminated by rain and dregs. Susil Premajayantha said motorists who could prove they had been supplied contaminated fuel would be given compensation. He rejected allegations the […]