Tag: Petroleum

July 06, 2010 (LBO) – Sri Lanka’s state-owned oil refiner, Ceylon Petroleum Corporation (CPC), suffered a loss of almost 13 billion rupees in the first six months of this year, a senior official said. Petroleum ministry secretary Titus Jayewardene said the refiner, which has a 50,000 barrels a day refinery at Sapugaskanda, north of Colombo, […]

July 06, 2010 (LBO) – Sri Lanka’s state-owned oil refiner, Ceylon Petroleum Corporation (CPC), continued to suffer losses in the first half of 2010 an official said. The CPC is also owed billions by state institutions which buy fuel from it do not repay, indirectly financing the budget deficit through bank credit. Petroleum ministry secretary […]

June 17, 2010 (LBO) – The Sri Lankan government wants to buy back the stake in the Shell Gas unit in the island that had been sold to the multinational in a privatization exercise several years ago, a spokesman said. The state-run Bank of Ceylon has been made an advisor to a committee that will […]

June 16, 2010 (LBO) – Oil exploration disasters are likely to continue in future as energy continues to dig deeper in the Ocean for petroleum products an analyst warned in Colombo, as Sri Lanka prepares for submarine drilling. “The hunger of energy and the need for energy is still on the rise and in the […]

May 24, 2010 (LBO) – Iran may provide Sri Lanka a loan of 1. 5 billion US dollars to double the capacity of the island’s sole oil refinery to 100,000 barrels a day, a media report said. The earlier understanding was for us to come up with 30 percent, but Iran may come in to […]

May 20, 2010 (LBO) – Lanka IOC, the Sri Lanka unit of Indian Oil Corporation said it lost 422 million rupees in the year to March 2010 down from 1,237 million a year earlier and had boosted bunkering sales to 15 percent of its total revenues. Lubricant sales had risen to 5. 6 million litres […]

NEW ORLEANS, May 16, 2010 (AFP) – US officials have told BP to clarify what costs it will pay for cleanup of the massive Gulf of Mexico oil spill, with crews employing new tactics Saturday to stem the leak as globs of oil wash ashore in new sites. The latest effort by British Petroleum to […]

May 14, 2010 (LBO) – Sri Lanka’s Hemas group and Colombo Dockyard have teamed up with Singapore’s Toll Offshore Petroleum Services to bid for Cairn India’s contract for offshore oil field support services, officials said. “Hemas Holdings, Colombo Dockyard and Toll Offshore Petroleum Services have jointly placed a bid for the offshore supply base for […]

May 07, 2010 (LBO) – Laugfs Group, the sole rival of the Sri Lankan unit of Royal Dutch Shell, is keen to buy the multinational’s operations in the island, Laugfs chairman W K H Wegapitiya said. Shell Gas Lanka is the dominant supplier of liquefied petroleum gas (LPG) in Sri Lanka with Laugfs having a […]

April 11, 2010 (AFP) – Sri Lanka will rerun voting at 18 polling booths where last week’s parliamentary election was affected by violence, officials said Sunday. The elections department cancelled voting at the booths in two electoral districts after allegations of intimidation and other violence. The final official results have yet to be declared because […]

Apr 06, 2010 (LBO) – Sri Lanka is to broaden its search for offshore oil and offer more exploration blocks in the Cauvery Basin in the island’s north as well as the south, the Central Bank said. The company’s Sri Lankan subsidiary Cairn Lanka has also called for bids to hire drilling rigs and logistic […]

Mar 14, 2010 (LBO) – Sri Lanka’s Chevron lubricants unit said sales fell in 2009 with a downturn in local and export demand, but is expecting a recovery this year with new demand expected from former war torn areas. The firm said industry volumes fell 7. 0 percent in which was the third consecutive year […]