Tag: news
Sri Lanka president takes over media portfolio
January 1, 2009 (AFP) – Sri Lanka President Mahinda Rajapakse on Thursday took the country’s influential media ministry under his wing ahead of a key mid-term election for his administration, officials said.The Ministry of Mass Media and Information was taken away from Anura Priyadharshana Yapa, who was instead given the Ministry of Investment Promotion post, […]
Volatile Pricing
Jan 01, 2009 (LBO) – Shell Gas Lanka, the Sri Lankan unit of the Shell multinational, said a new government tax and its inability to buy locally made liquid petroleum gas is preventing it from further reducing prices.It said in a statement that the government has imposed a special tax of eight rupees per kilogramme […]
Barrelling Down
LONDON, December 28, 2008 (AFP) – Oil prices, which hit record highs above 147 dollars a barrel this year before plunging under 33 dollars, risk slumping more in 2009 as recession curbs the world’s appetite for energy, analysts say. “We expect oil prices in early 2009 to remain under pressure given the weakening demand outlook […]
Petrol Saga
Dec 27, 2008 (LBO) – Sri Lanka’s main opposition United National Party (UNP) plans to file a contempt-of-court case against the government for its refusal to obey a Supreme Court order to reduce petrol prices, a media report said. The Daily Mirror newspaper said UNP wants to file a contempt-of-court case against the Cabinet, the […]
Christmas celebrations reflect on war, hardship
VATICAN CITY, December 25, 2008 (AFP) – War and economic hardship loomed over Christmas celebrations across the world Thursday, with Pope Benedict XVI denouncing greed and pleading for an end to violence in the Middle East. The pontiff lamented that “the horizon seems once again bleak for Israelis and Palestinians,” and he decried the conflicts […]
China Plan
BEIJING, December 25, 2008 (AFP) – China has started filling tanks at its largest oil reserve, taking advantage of tumbling world crude prices, state media reported Thursday. The aim of the reserves is to guarantee supply in times of need as the nation’s a growing economy demands ever-more energy to fuel the factories that supply […]
Volatile Price
Dec 24, 2008 (LBO) – The Sri Lanka unit of the Indian Oil Corporation, which slashed petrol prices in response to a Supreme Court order, raised the retail prices back to the earlier level of 122 rupees Wednesday. The entire capital budget of the government is also financed out of debt, and the government has […]
Sri Lanka govt says enough fuel stocks available
Dec 19, 2008 (LBO) – Sri Lanka’s state-owned Ceylon Petroleum Corporation has enough stocks and it is continuing to supply fuel stations, a minister said, while a court directive to cut prices remains to be implemented. Information minister Anura Yapa said the CPC is sending 160 fuel bowsers to fuel stations island-wide. This should help […]
Price Cut
Dec 19, 2008 (LBO) – Lanka IOC, a unit of Indian Oil Corporation, is cutting the retail price of petrol to 100 rupees a litre on an order by Sri Lanka’s Supreme Court, an official said Friday. The court order came following a public interest petition which said the government was charging 72 rupees of […]
Stand Off
Dec 19, 2008 (LBO) – Sri Lanka’s cabinet of ministers had not revised oil prices after meeting for a second time, with a court decision to cut prices still to be officially conveyed, an official said. The cabinet is expected to meet again on the issue, he said. Sri Lanka’s Supreme Court directed the government […]
Oil Commission
Dec 16, 2008 (LBO) – Sri Lanka’s state-run Ceylon Petroleum Corporation (CPC) was instructed to consider a bigger commission to its dealers, by the island’s Supreme Court, as part of directions issued on a new pricing formula.CPC’s newly appointed chairman, Asoka Thoradeniya was instructed to discuss the issue with Laugfs, a distributor that went to […]
Court Formula
Dec 15, 2008 (LBO) – Sri Lanka’s Supreme Court said the island’s taxation of petroleum products was irrational and asked the Treasury not to tax petrol more than 100 percent of cost and margins. He rejected suggestions that diesel was sold at a loss, saying the government was charging 21 rupee of taxes a litre. […]