Category: Petroleum
Credit Slip
The Indian Export Import (EXIM) Bank has called for a corporate guarantee for the US$ 150 million fuel credit line to Sri Lanka.The Indian Export Import (EXIM) Bank has called for a corporate guarantee for the US$ 150 million fuel credit line to Sri Lanka. The new hurdle was introduced to cover a possible default […]
Fire Power
The government to subsidise the first 50 MW of dendro power to popularise dendro energy in Sri Lanka.The government to subsidise the first 50 MW of dendro power to popularise dendro energy in Sri Lanka. “The government will support the first 50 MW of pioneering dendro developers,” said Harsha Wickramasinghe, Project Director, Energy Conservation Fund. […]
Cozy Union
India’s state-run Oil & Natural Gas Corp. is planning to form a joint venture with Sri Lankan state-run company Ceylon Petroleum Corp. to take up exploration in Southern India’s Cauvery basin, reports the Economic Times newspaper Tuesday India’s state-run Oil & Natural Gas Corp. is planning to form a joint venture with Sri Lankan state-run […]
And Counting….
The Lanka IOC issue had attracted more than Rs. 24 bn, or more than 1 percent of GDP, even before all the postal and regional stock exchange applications were counted. Foreign applications had topped US $ 95 mn. “We are very encouraged by the foreign investor response,” says Vajira Kulathilaka, Head of NDB Investment Bank, […]
Oil Dollars
Sri Lanka will get Asian Development Bank help for its up-coming bidding round to auction off potential blocks off the Mannar coast, for oil exploration. Sri Lanka will get Asian Development Bank help for its up-coming bidding round to auction off potential blocks off the Mannar coast, for oil exploration. Sri Lanka has applied for […]
Power Politics
The 2005 budget jacked up renewable energy tariffs, stepping squarely into a running battle between mini-hydro developers and the state power utility.The 2005 budget jacked up renewable energy tariffs, stepping squarely into a running battle between mini-hydro developers and the state power utility. Finance Minister Dr. Sarath Amunugama said on Thursday that renewable sources of […]
Drawing Power
Sri Lanka’s power demand peaked at a new high of 1559.9 MW last night, as people plugged in to watch and listen with bated breath to the government’s maiden budget.Sri Lanka’s power demand peaked at a new high of 1559.9 MW last night, as people plugged in to watch and listen with bated breath to […]
Begging Success
Giving a brief respite to the cash-strapped government, Malaysian State Oil Company Petronas has agreed to defer crude oil payments for up to six months to help Sri Lanka manage the exchange rate crisis.Giving a brief respite to the cash-strapped government, Malaysian State Oil Company Petronas has agreed to defer crude oil payments for up […]
Cold Thoughts
Shell Gas says cylinder prices could spiral to Rs. 1020 levels by December, come winter, an accumulated price squeeze and a US$ 180 mn loss for the first nine months this year.Shell Gas says cylinder prices could spiral to Rs. 1020 levels by December, come winter, an accumulated price squeeze and a US$ 180 mn […]
Soothing Oil
India has come through with a US$ 150 mn credit line, allowing Sri Lanka to fill up her fuel tanks with refined petroleum products for six months.India has come through with a US$ 150 mn credit line, allowing Sri Lanka to fill up her fuel tanks with refined petroleum products for six months. Indian state […]
Strike Out
The CEB Engineers Union suspended a planned token strike to be held on Wednesday, subject to further talks with the Government on the coal and Upper Kotmale projects.The CEB Engineers Union suspended a planned token strike to be held on Wednesday, subject to further talks with the Government on the coal and Upper Kotmale projects. […]
Powerful Undercurrents
The Ceylon Electricity Board Engineers’ Union is threatening to plunge the country into darkness if the government fails to find sustainable solutions to reduce power prices in the country. The Ceylon Electricity Board Engineers’ Union is threatening to plunge the country into darkness if the government fails to find sustainable solutions to reduce power prices […]