Category: Petroleum

June 05, 2007 (LBO) – Lanka IOC, a unit of the Indian Oil Corporation, has started a marine bunkering operation by supplying diesel to ships off the east coast of the island, an official said.“We made a humble beginning using our facilities in Trincomalee by offering bunkering services selling diesel oil to two vessels a […]

May 30, 2007 (LBO) – India’s National Thermal Power Corporation (NTPC) which is hoping to build a coal plant with Sri Lanka’s power utility has asked for Indian government help to change its proposed location, reports said. Eastern Sri Lanka has seen heavy fighting in the past year as government troops systematically took back areas […]

May 29, 2007 (LBO) – Globeleq, a unit of CDC investment group which is raising a billion dollars by selling power sector assets in Sri Lanka and other countries, says it is looking for new projects. “This is excellent news for emerging markets. Greater access to reliable energy continues to be a high priority for […]

May 28, 2007 (LBO) – The Malaysian firm Tanjong, controlled by billionaire Ananda Krishnan, has taken a foothold in Sri Lanka’s power sector by acquiring an international energy firm with investments in the country, the company said Monday. In a filing at the Kuala Lampur stock exchange Tanjong said it had taken over Globeleq, a […]

May 25, 2007 (LBO) – The Sri Lanka unit of the Indian Oil Corporation is planning to boost its 13 percent share in the island’s lube business after getting the government nod to enter the licensed industry, the company said Friday. The company said the secretary of Sri Lanka’s Ministry of Petroleum and Petroleum Resources […]

May 24, 2007 (LBO) – Lanka IOC, a unit of the Indian Oil Corporation has posted higher profits in the March quarter helped by a provision write-back and supply of refined products to the Ceylon Petroleum Corporation. Lanka IOC posted net profits of 874 million rupees in the 3-months to March (344.7 million rupees in […]

May 11, 2007 (LBO) — Sri Lanka plans to double the price of lottery tickets and use the extra cash to build a second international airport in Weerawila, the National Lotteries Board has said.From Thursday, the Bandaranaike International Airport, which shares a runway with an adjoining military base, will close between 10:30 pm (1700 GMT) […]

April 29, 2007 (LBO) – The Indian and Dutch partners of petroleum facilities targeted by Tamil Tigers, which are jointly owned with the government of Sri Lanka, are confident of resuming normal business as the damage is minimal, officials said. The Tigers first hit a petroleum facility in Kolonnawa, a suburb of Colombo, which is […]

April 26, 2007 (LBO) – Sri Lanka’s international airport has re-opened after several flights were diverted as a precautionary measure following reports of a possible Tamil Tiger air raid, officials said. . Updated Military spokesman Brigadier Prasad Samarasinghe said there was no attack but there were reports of two unidentified light aircraft being detected in […]

April 26, 2007 (LBO) – India is eyeing two oil exploration blocks in Sri Lanka with two state oil firms engaging in open bidding as well as taking a block that is being given as a special favour by their southern neighbor, reports said. The United States is also hosting Sri Lanka’s petroleum officials at […]

April 25, 2007 (LBO) –The Asian Development Bank (ADB) Wednesday inked a deal with the Sri Lanka government to lend 300 million dollars to expand Colombo port that it said would help keep Sri Lanka’s shipping costs down. Finance Ministry secretary P.B. Jayasundera said the government will chip in with 180 million dollars, and expects […]