Category: Petroleum

April 16, 2007 (LBO) – A litre of diesel may be raised by five rupees tomorrow in the face of rising global oil prices, Ceylon Petroleum Corporation Chairman Ashantha de Mel said. “Though increases in fuel prices raised the price level, its overall impact on the future inflation will be to lower the inflation, since […]

April 15, 2007 (LBO) – Sri Lanka lost electricity power Sunday as the entire national electricity grid failed shortly before 3.00 pm local time, officials said. Sri Lanka has been under-investing in infrastructure for years, with most of the tax revenues going to sustain a bloated public service or the war. In the last two […]

April 09, 2007 – Sri Lanka Monday officially kicked off work on building a Japanese funded hydro power project in the island’s central hills, which will add 150 mega wattes of power to the national grid, the Japanese embassy here said.The 33.27 million dollar yen or 30 billion rupee Upper Kotmale project got off the […]

April 09, 2007 (LBO) – Sri Lanka’s petroleum utility will get a 33 million rupee payment this week on the expiry of its first hedging contract for imported diesel, a top official said. Last month the utility raised petroleum prices by 7 rupees a litre (about 30 rupee a gallon). Updated The utility first bought […]

April 09, 2007 (LBO) – The Sri Lanka Ports Authority (SLPA) is having a pre-bid meeting Tuesday with private investors keen on building container terminals in Colombo’s new south port whose infrastructure work has attracted interest from 30 investor consortia, an official said. SLPA chairman Saliya Wickramasooriya said Monday the original date for opening bids […]

April 6 (LBO) – The top official in charge of Sri Lanka’s search for oil has told the corporate sector to be ready to provide the support service and skills required by an offshore petroleum industry. Three of the eight remaining blocks will be opened for bidding this year, with the others following in a […]

March 30, 2007 (LBO) – A 2.2 MegaWatt mini-hydro plant built by the power division of Hemas Holding would be connected to the national grid in June, an official said. Hemas Power, a fully subsidiary of Hemas Holdings, signed an agreement on Friday with the BOI to invest 223 million rupees in the Giddawa mini […]

March 27, 2007 (LBO) – The Asian Development Bank (ADB), which is funding the breakwater and dredging of Colombo port’s expansion project, may take an equity stake in one of its container terminals, an official said. The South Port project will see three terminals being built in the first phase. Updated ADB Country Director Richard […]

COLOMBO, March 26, 2007 (AFP) – Sri Lanka’s only international airport was shut early Monday following a suspected Tamil Tiger attack on an adjoining military airbase, officials said.. Passengers who had boarded aircraft were asked to disembark and taken to a shelter, officials said, adding that the move followed gunfire and explosions heard at the […]

March 26, 2007 (AFP) – Tamil Tiger rebels carried out their first ever air raid Monday, attacking a military base on a daring night-time mission that forced the temporary closure of Sri Lanka’s international airport.At least three airmen were killed and 16 others wounded in the raid on the Katunayake airbase next to the airport […]

March 26, 2007 (AFP) – Hong Kong’s Cathay Pacific Airlines on Monday announced the immediate suspension of flights to Sri Lanka following a rebel air raid on a base next to the island’s only international airport.“Safety is a top priority at Cathay Pacific and a careful assessment of the situation will be made before services […]

March 23, 2007 (LBO) – Sri Lanka’s power utility has got all its troublesome thermal generators on line a top official said, in a week that saw the highest energy generated in a single day as Sri Lankans watched their cricket team thrash Bangladesh. The flow is needed to keep sea water out of the […]