Category: Petroleum

Ceylon Electricity Board unions staged a walkout on Friday protesting against a Cabinet paper passed two days ago, they say was shoved through the backdoor.Ceylon Electricity Board unions staged a walkout on Friday protesting against a Cabinet paper passed two days ago, they say was shoved through the backdoor. The Cabinet on Wednesday evening passed […]

Ceypetco is pinning hopes on extended supplier credit from Malaysia and formula adjusted prices to plug a Rs.5.5 bn hole in the first 4 months this year.Ceypetco is pinning hopes on extended supplier credit from Malaysia and formula adjusted prices to plug a Rs. 5.5 bn hole in the first 4 months this year. The […]

Largely JVP led unions refuse to consider an alternate reform model for the loss making Electricity Board, rejecting the new Cabinet paper that was passed on Wednesday.Largely JVP led unions refuse to consider an alternate reform model for the loss making Electricity Board, rejecting the new Cabinet paper that was passed on Wednesday. The now […]

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 […]

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 […]

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 […]

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 […]

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 […]

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 […]

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 […]