Tag: Petroleum

Feb 18, 2010 (LBO) – Lanka IOC, a unit of the Indian Oil Corporation, said it was making ship oil or bunker deliveries from Colombo port through locally registered vessels after barges contracted by the firm were detained by Sri Lanka shipping authorities. Shipping sources say the bunker tankers of other operators are mostly idle […]

Feb 17, 2010 (LBO) – The Sri Lanka unit of Indian Oil Corporation said it made a ˜nominal’ profit in the December quarter compared with a loss a year ago on higher petrol prices and other products like marine fuel and lubricants. Government-mandated retail petrol prices were cut by 15 rupees a litre on December […]

Feb 09, 2010 (LBO) – Gazprom, a Russian oil firm, has held discussions with visiting Sri Lanka president Mahinda Rajapaksa on exploring for oil off the coast of the Indian Ocean island. Cairn has incorporated a local firm to begin oil exploration. Cairn India said the 3D seismic surveys by its local unit, Cairn Lanka, […]

January 21, 2010 (AFP) – Sri Lanka’s main opposition said Thursday it feared President Mahinda Rajapakse would use the military to remain in power if he was defeated in next week’s elections. Opposition candidate Sarath Fonseka accused the government of pushing senior army commanders to appear on state-run television to express their public support for […]

Dec 30, 2009 (LBO) – The Sri Lanka unit of Indian Oil Corporation said it is likely to make losses on petrol sales after the dominant state-owned oil refiner slashed retail prices barely a month ahead of presidential polls. Last month on petrol sales we made a profit of one rupee per litre, said K […]

Dec 30, 2009 (LBO) – The Sri Lankan unit of the Shell gas multinational said it was holding domestic prices of liquid petroleum gas cylinders despite higher import costs as the government had cut taxes. The announcement came as the Trade and Consumer Affairs Ministry said the other supplier Laugfs Gas will cut its prices […]

Dec 29, 2009 (LBO) – Sri Lanka’s state-owned refiner, the Ceylon Petroleum Corporation, said it will cut fuel prices from midnight Tuesday. It said in a statement that the price of a litre of 90 Octane petrol will be reduced to 115 rupees from 130 rupees now while 95 octane petrol will be sold at […]

Dec 15, 2009 (LBO) – A planned ship fuel business off a new port being built in southern Sri Lanka, will target small vessels sailing past the island and lure them with break-even prices, officials said.Sri Lanka Ports Authority (SLPA) intends to start sales of bunkers in the first quarter of next year off Hambantota, […]

Dec 11, 2009 (LBO) – Sri Lanka is ready to calls for bids for oil exploration in more blocks in the island’s north-west as well as the south, Petroleum Resources Minister A H M Fowzie said.Fowzie said oil and gas discoveries on the Indian side of the Mannar Basin meant there was a better chance […]

Nov 16, 2009 (LBO) – Sri Lanka has declared several state utilities ‘essential services’ the government said, as industrial unrest threatened to increase following the assault of some workers and rejection of higher salary offers.The government said petroleum, water, ports and electricity services were declared essential services from midnight Sunday. Both power and water are […]

Nov 13, 2009 (LBO) – Lanka IOC, the Sri Lankan unit of Indian Oil Corp., has said it made a loss of 203 million rupees in the September 2009 quarter, partly on losses from hedging in oil imports.The firm has been lobbying for lower import duties on fuel or higher retail prices which are government […]