Category: Petroleum
Cabinet approves proposal to conduct feasibility for India, Japan aided LNG terminal
Feb 28, 2018 (LBO) – Sri Lanka’s cabinet on Tuesday approved a proposal to conduct a feasibility study for the proposed Liquefied Natural Gas (LNG) Terminal and the Floating Storage Regasification Unit (FSRU). Accordingly, Sri Lanka will sign a tripartite MoU with India and Japan soon to conduct a feasibility study. Cabinet has also decided […]
LAUGFS to set up cylinder manufacturing plant in Bangladesh
July 17, 2017 (LBO) – LAUGFS Gas Bangladesh, part of the diversified Sri Lankan multinational LAUGFS Holdings, said it is planning to set up a cylinder manufacturing plant in Bangladesh. LAUGFS Gas Bangladesh currently operates a world-class LPG import, bottling and distribution facility in Mongla Port, the company said. It serves domestic and industrial segments […]
SriLankan Airlines, CEB, CPC record Rs30bn loss in first 4 months
July 10, 2017 (LBO) – State-owned carrier Sri Lankan Airline, main power supplier Ceylon Electricity Board and Ceylon Petroleum Corporation together have recorded a loss of 30 billion rupees in the first four months of this year, a treasury report showed. Sri Lankan Airlines The total loss of Sri Lankan Airlines increased by 55 percent […]
”’ LNG to Sri Lanka
June 01, 2017 (LBO) – India’s Petronet LNG has proposed to supply ‘green’ LNG to Sri Lanka and is awaiting an evaluation of their proposal, Deputy Manager of Petronet LNG Manik Jhamb said during a visit to Colombo. “Investing in it is a win-win for Lankan government, consumers and for us since it is Green […]
CEB wants to lift non-conventional renewable energy to 17-pct by 2019
Mar 07, 2017 (LBO) – Sri Lanka’s state owned Ceylon Electricity Board has set a target to increase electricity generation from renewable resources from the current 10 percent to 17 percent by the end of 2019. Increasing nonconventional renewable energy generation composition is one performance target that CEB has agreed to adhere in line with […]
Sri Lanka calls tenders for petroleum development in Mannar Basin
Feb 12, 2017 (LBO) – The Sri Lankan government is inviting expressions of interest for partners to undertake the appraisal and development of gas discoveries and prospects in a 2,900-sq km offshore block in the Mannar Basin, a statement said. The block (M2) will be offered for licensing this year, including the Barracuda and Dorado […]
Sri Lanka’s Laugfs buys third LPG carrier vessel for USD2.9mn
Jan 06, 2017 (LBO) – Sri Lanka’s Laugfs Maritime Services has purchased its third Liquefied Petroleum Gas (LPG) carrier vessel for 2.875 million US dollars. The company said in a stock exchange filing that the vessel earlier named as “Lady Martine” will be renamed as “Gas Courage” under the Sri Lankan flag. Laugfs Maritime Services […]
PUCSL recommends steps for power shortages in 1Q 2017
Dec 27, 2016 (LBO) – Sri Lanka’s electricity regulator, Public Utilities Commission has made several recommendations for the CEB to mitigate the impact of power shortage during the period from January to April 2017. PUCSL said successive failure of monsoons has caused very low hydro reservoir storage (less than 500 GWh) and the Commission is […]
Funds committed to fossil fuel divestment double in a year
Dec 20, 2016 (LBO) – The value of investment funds committed to selling off fossil fuel assets has doubled in just over a year, a new report states. The value of these funds doubled to 5.2 trillion dollars last year. The report, produced by Arabella investment advisors for the DivestInvest coalition, collated public pledges by […]
Sri Lanka offers long-term contracts to import refined petro products
Nov 17, 2016 (LBO) –Sri Lanka’s cabinet has granted its approval to offer three longer term contracts to Indian and Singapore companies to purchase refined petroleum products to meet the country’s demands. These contracts cover a period of 8 months starting December this year as the existing contracts for purchase of refined petroleum products have […]
‘s prospects for LNG investment high, especially from Japan: advisory firm
Nov 16, 2016 (LBO) – Sri Lanka’s prospects for attracting investments in LNG, power plants, and natural gas infrastructure are good, especially if the island looks towards Japan, a global advisory firm said. Sri Lanka enjoys “Comprehensive Partnership” status with Japan, supported by close ties between Prime Minister Ranil Wickremesinghe and Japanese Premier Shinzo Abe, […]
Interview: Strength of potential partners key to LNG negotiations, says PRDS DG
Nov 08, 2016 (LBO) – The reputation and financial strength of potential partners is key to developing Sri Lanka’s LNG infrastructure, according to the head of the Petroleum Resources Development Secretariat (PRDS). “Introducing a new energy form of LNG and building up end-user dependency on it requires a low-risk approach to supply assurance,” Saliya Wickramasuriya, […]