Category: Petroleum
Ball Game
Laugfs Gas is seeking legal advice to raise prices on a cylinder of LPG, despite the consumer watchdog shooting down its request for a Rs. 110 increase. Laugfs Gas is seeking legal advice to raise prices on a cylinder of LPG, despite the consumer watchdog shooting down its request for a Rs. 110 increase. The […]
Oil Pains
COLOMBO (Dow Jones)–As Sri Lanka’s energy companies wilt under the weight of high oil prices, pressure is building on the government to remove gasoline subsidies and reform inefficient state enterprises.COLOMBO (Dow Jones)–As Sri Lanka’s energy companies wilt under the weight of high oil prices, pressure is building on the government to remove gasoline subsidies and […]
About to Blow
Ceylon Electricity Board unions (CEB) will go on a half day token strike tomorrow, protesting against a Cabinet paper to restructure the loss making utility.Ceylon Electricity Board unions (CEB) will go on a half day token strike tomorrow, protesting against a Cabinet paper to restructure the loss making utility. The Government is to take up […]
Petropolitics
Government subsidized petroleum based products by up to Rs. 16 billion last year and face a similar subsidy this year if fuel prices continue at current levels Government subsidized petroleum based products by up to Rs. 16 billion last year and face a similar subsidy this year if fuel prices continue at current levels Central […]
Tweaking Terms
Sri Lanka plans to change the terms of controversial petroleum asset sale deal, mandating a third player to secure fuel supplies from state-run Ceypetco’s Sapugaskande refinery.Sri Lanka plans to change the terms of controversial petroleum asset sale deal, mandating a third player to secure fuel supplies from state-run Ceypetco’s Sapugaskande refinery. “The government has given […]
May Day Resolutions
Sri Lanka’s government has promised lending agencies to turn a new leaf after May Day, kicking off the process with a hike in fuel prices, LBO learns.Sri Lanka’s government has promised lending agencies to turn a new leaf after May Day, kicking off the process with a hike in fuel prices, LBO learns. A top […]
Deaf Ears
Sri Lanka’s Central Bank is banging its head against the wall trying to convince a deaf government to raise fuel prices, as the exchequer groans under mountains of subsidy payments. Sri Lanka’s Central Bank is banging its head against the wall trying to convince a deaf government to raise fuel prices, as the exchequer groans […]
Slippery Grounds
Ceylon Petroleum Corporation says its operations are not viable unless the government sticks to the pricing formula agreed to as part of the sector restructuring.Ceylon Petroleum Corporation says its operations are not viable unless the government sticks to the pricing formula agreed to as part of the sector restructuring. CPC is waiting for confirmation the […]
Watchout
The IMF said Thursday that rising living standards in China and the rest of the developing world will keep oil prices sky-high for decades to come, with even 100 dollars a barrel not ruled out.The IMF said Thursday that rising living standards in China and the rest of the developing world will keep oil prices […]
Switched Off
Electricity sector trade union plans for an island wide blackout, goes on hold after the government agrees to hold back Ceylon Electricity Board (CEB) reforms.Electricity sector trade union plans for an island wide blackout, goes on hold after the government agrees to hold back Ceylon Electricity Board (CEB) reforms. “The Minister of Power and Energy […]
Unplugged
Power sector unions are giving the state till Friday to decide on controversial reform plans for the loss making Ceylon Electricity Board, ahead of a key union meeting.Power sector unions are giving the state till Friday to decide on controversial reform plans for the loss making Ceylon Electricity Board, ahead of a key union meeting. […]
Climbing Up
World oil prices hit fresh historic high points on Monday, climbing above 58 dollars a barrel in New York on tight supplies, as OPEC began consultations to consider raising output by 500,000 barrels per day.New York’s main contract, light sweet crude for May delivery, struck a record intra-day high of 58.18 dollars in electronic trading […]