Category: Petroleum

Ceylon Electricity Board (CEB) wants government to support consumer subsidies as part of a plan to stop losing large sums of money every day.Ceylon Electricity Board (CEB) wants government to support consumer subsidies as part of a plan to stop losing large sums of money every day. Monopoly electricity supplier the CEB is selling power […]

Sri Lanka is to double its license fees for lubricant operators and invite more players paving the way for state-run Ceylon Petroleum Corp.to also join the fray, Energy Minister M H M Fowzie said Monday. Sri Lanka is to double its license fees for lubricant operators and invite more players paving the way for state-run […]

Sri Lanka’s President Mahinda Rajapakse Wednesday promised to honour US$ 71 million due to Indian Oil Corp., after its local unit lamented that unpaid bills will drive it to technical insolvency. Sri Lanka’s President Mahinda Rajapakse Wednesday promised to honour US$ 71 million due to Indian Oil Corp., after its local unit lamented that unpaid […]

Shares in retail fuel giant Lanka IOC Ltd., were suspended Tuesday, as the firm grapples with working capital constraints.Shares in retail fuel giant Lanka IOC Ltd., were suspended Tuesday, as the firm grapples with working capital constraints. A Colombo Stock Exchange spokesperson told LBO the stock was suspended pending a clarification from the Indian fuel […]

Lanka IOC said it is proceeding forward with plan to set up a lubrication blending plant in Trincomalee despite working capital constraints in its fuel retailing business.Lanka IOC said it is proceeding forward with plan to set up a lubrication blending plant in Trincomalee despite working capital constraints in its fuel retailing business. Lubed Up […]

A fire broke out at the Kukule Hydropower station late Thursday night due to a suspected technical fault, damaging one of the two 40 MW generators. A fire broke out at the Kukule Hydropower station late Thursday night due to a suspected technical fault, damaging one of the two 40 MW generators. The fire was […]

President says coal power and upper Kotmale hydro power project are top priority in infrastructure development.President says coal power and upper Kotmale hydro power project are top priority in infrastructure development. Delivering the budget speech, President Mahinda Rajapaksa said “the coal power plant and Upper Kotmale hydro power project will be given highest priority in […]

Retail fuel giant Lanka IOC Ltd.’s could be heading for a bleak Christmas as US$ 71 million worth of unpaid subsidy bills, due from the Sri Lankan government, pile up. Retail fuel giant Lanka IOC Ltd.’s could be heading for a bleak Christmas as US$ 71 million worth of unpaid subsidy bills, due from the […]

Retail fuel giant Lanka IOC Ltd reported 69 percent drop in second-quarter earnings on Friday as government imposed subsidies and record world crude prices erased profit margins.Retail fuel giant Lanka IOC Ltd reported 69 percent drop in second-quarter earnings on Friday as government imposed subsidies and record world crude prices erased profit margins. Lanka IOC […]

Shell Gas is to jack up rates of domestic gas by Rs.57.00 from Monday, on the heels of a court ruling last week that allows the company to peg rates to global prices.Shell Gas is to jack up rates of domestic gas by Rs. 57.00 from Monday, on the heels of a court ruling last […]

The Court of Appeal has ruled the Consumer Affairs Authority (CAA) cannot control Shell Gs Lanka prices by categorizing LP gas as an essential item.The Court of Appeal has ruled the Consumer Affairs Authority (CAA) cannot control Shell Gs Lanka prices by categorizing LP gas as an essential item. The court awarded the case in […]

Operating losses at the Ceylon Electricity Board is threatening to snowball to Rs.18 billion by year end, as costs of generation soar with no new power plants in sight. Operating losses at the Ceylon Electricity Board is threatening to snowball to Rs. 18 billion by year end, as costs of generation soar with no new […]