Category: Petroleum

Aug 05, 2010 (LBO) – The Sri Lankan government has decided to further open up the lubricant market by allowing more suppliers with the aim of increasing competition and reducing prices, a spokesman said. Lubricant sale and production is a regulated industry in Sri Lanka. The local lubricant market was opened up in January 2007. […]

July 26, 2010 (LBO) – A large industrial user of liquefied petroleum gas as expressed concern over a proposed state take-over of a private gas distributor in Sri Lanka as energy sector management under state has created serious problems in the past. Lanka Tiles, a manufacturer and exporter of ceramic tiles says, it is braced […]

July 9, 2010 (AFP) – Sri Lanka said Friday that UN chief Ban Ki-moon had “acted in haste” by recalling his top envoy on the island in response to angry protests over a UN war crimes panel. Foreign Minister Gamini Lakshman Peiris said the government had told Ban’s chief representative Neil Buhne that the days […]

July 06, 2010 (LBO) – A high powered Sri Lanka government committee tasked with buying back a controlling stake in a gas firm privatized to Shell, a petroleum firm, will meet Friday to decide on its future moves, a top official said. Shell Gas Lanka is the top liquefied petroleum gas (cooking gas) distributor in […]

July 06, 2010 (LBO) – Sri Lanka’s state-owned oil refiner, Ceylon Petroleum Corporation (CPC), suffered a loss of almost 13 billion rupees in the first six months of this year, a senior official said. Petroleum ministry secretary Titus Jayewardene said the refiner, which has a 50,000 barrels a day refinery at Sapugaskanda, north of Colombo, […]

July 06, 2010 (LBO) – Sri Lanka’s state-owned oil refiner, Ceylon Petroleum Corporation (CPC), continued to suffer losses in the first half of 2010 an official said. The CPC is also owed billions by state institutions which buy fuel from it do not repay, indirectly financing the budget deficit through bank credit. Petroleum ministry secretary […]

June 17, 2010 (LBO) – The Sri Lankan government wants to buy back the stake in the Shell Gas unit in the island that had been sold to the multinational in a privatization exercise several years ago, a spokesman said. The state-run Bank of Ceylon has been made an advisor to a committee that will […]

June 16, 2010 (LBO) – Oil exploration disasters are likely to continue in future as energy continues to dig deeper in the Ocean for petroleum products an analyst warned in Colombo, as Sri Lanka prepares for submarine drilling. “The hunger of energy and the need for energy is still on the rise and in the […]

May 24, 2010 (LBO) – Iran may provide Sri Lanka a loan of 1. 5 billion US dollars to double the capacity of the island’s sole oil refinery to 100,000 barrels a day, a media report said. The earlier understanding was for us to come up with 30 percent, but Iran may come in to […]

May 20, 2010 (LBO) – Lanka IOC, the Sri Lanka unit of Indian Oil Corporation said it lost 422 million rupees in the year to March 2010 down from 1,237 million a year earlier and had boosted bunkering sales to 15 percent of its total revenues. Lubricant sales had risen to 5. 6 million litres […]

NEW ORLEANS, May 16, 2010 (AFP) – US officials have told BP to clarify what costs it will pay for cleanup of the massive Gulf of Mexico oil spill, with crews employing new tactics Saturday to stem the leak as globs of oil wash ashore in new sites. The latest effort by British Petroleum to […]

May 14, 2010 (LBO) – Sri Lanka’s Hemas group and Colombo Dockyard have teamed up with Singapore’s Toll Offshore Petroleum Services to bid for Cairn India’s contract for offshore oil field support services, officials said. “Hemas Holdings, Colombo Dockyard and Toll Offshore Petroleum Services have jointly placed a bid for the offshore supply base for […]