Category: Petroleum

Trying to squirm out of paying mounting subsidy bills, Treasury has told state oil giant Ceypetco that it is liable to pay its claims, only if it declares a loss.Trying to squirm out of paying mounting subsidy bills, Treasury has told state oil giant Ceypetco that it is liable to pay its claims, only if […]

The government plans to roll out a “Renewable Energy Support Bond” for Rs.2 billion in 2006 to raise funds supporting rural electrification through renewable energy, Finance Minister Sarath Amunugama said Tuesday.The government plans to roll out a “Renewable Energy Support Bond” for Rs. 2 billion in 2006 to raise funds supporting rural electrification through renewable […]

Sri Lanka government shelves private sector funded oil refinery project in Sapugaskanda under trade union pressure.Sri Lanka government shelves private sector funded oil refinery project in Sapugaskanda under trade union pressure. Last week, Cabinet gave the green light for a US$ 800 million oil refinery project financed by US company Global Energy Industrial Operations. Global […]

Ceylon Petroleum Corporation trade unions say they will not go on strike over a new refinery project, pending a meeting with Premier Mahinda Rajapakse.Ceylon Petroleum Corporation trade unions say they will not go on strike over a new refinery project, pending a meeting with Premier Mahinda Rajapakse. “We objected because we were not fully aware […]

Sri Lanka President Chandrika Kumaratunga Tuesday set up a ministry to exploit the island nation’s petroleum potential and named herself as its minister, a government statement said.Sri Lanka President Chandrika Kumaratunga Tuesday set up a ministry to exploit the island nation’s petroleum potential and named herself as its minister, a government statement said. Kumaratunga’s office […]

Ceylon Petroleum Corporation unions are threatening to strike work next week, protesting against a new refinery project to be built with private sector help.Ceylon Petroleum Corporation unions are threatening to strike work next week, protesting against a new refinery project to be built with private sector help. The government is to sign a deal with […]

A US$ 800 mn refinery at Sapugaskanda has got the Cabinet nod, in a joint venture with US based Global Energy and Industrial Operations Inc. A US$ 800 mn refinery at Sapugaskanda has got the Cabinet nod, in a joint venture with US based Global Energy and Industrial Operations Inc. Cabinet approval was given for […]

United National Party (UNP) said last week they would recommence work to build a thermal power station at Kerewelapitiya abandoning the west coast coal power plant option.United National Party (UNP) said last week they would recommence work to build a thermal power station at Kerewelapitiya abandoning the west coast coal power plant option. Government, that […]

Sri Lanka is close to signing a US$ 800 mn joint venture with a US based energy firm, to double oil refining capacity at its Sapugaskanda refinery and save on its fuel bill.Sri Lanka is close to signing a US$ 800 mn joint venture with a US based energy firm, to double oil refining capacity […]

Renewable energy player Vidulanka Ltd plans to tap the capital markets next year to raise around Rs.265 million to fund upcoming power projects, officials said Wednesday.Renewable energy player Vidulanka Ltd plans to tap the capital markets next year to raise around Rs. 265 million to fund upcoming power projects, officials said Wednesday. The power producer […]