Tag: Petroleum

Nov 20, 2013 (LBO) – State-run Sri Lanka Ports Authority said it had leased liquefied petroleum gas tanks in a facility at newly built Hambantota port to another state run firm.The LPG distribution firm was acquired by the state when Shell sold out. Three tanks with a capacity of 6,000 cubic metres each had been […]

Nov 10, 2013 (LBO) – Profits at Sri Lanka’s Laugfs Gas rose 50 percent to 619 million rupees in the September 2013 quarter from a year earlier, amid easing commodity prices, interim accounts showed. Property and leisure units were in losses. The group reported earnings of 1.60 rupees per share. For the 6-months to September […]

Oct 25, 2013 (LBO) – Sri Lanka’s Chevron Lubricants reported higher profits with falling base oil prices but said the lubricant market was contracting. Revenues in the September 2013 quarter fell 7 percent to 2.7 billion rupees from a year earlier, with cost of sales falling at a faster 15 percent to 1.75 billion rupees, […]

Oct 24, 2013 (LBO) – Cairn Lanka, a unit of Cairn India, which has found natural gas in its off-shore block in Sri Lanka could begin field development by 2015 if ongoing talks over pricing is concluded, an official said. Cairn Lanka is now in talks with Sri Lanka’s government over gas pricing and is […]

Oct 23, 2013 (LBO) – Sri Lanka’s petroleum exploration office and the university system are looking to expand petroleum related courses as the country’s oil and gas industry is beginning to taking off, officials said. Cairn which, is in talks with the government over monetizing hydrocarbon deposits has brought in Robertson CGG, an oil and […]

Sept 27, 2013 (LBO) – Oil majors Exxon Mobil and Royal Dutch Shell, France’s Total are among the firms that may bid for offshore oil exploration blocks offered by Sri Lanka, a media report said.Italy’s ENI and India’s ONGC Videsh and Cairn India could also bid, Saliya Wickramasuriya, head of Sri Lanka’s petroleum exploration office […]

NEW YORK CITY, September 24, 2013 (AFP) – The US shale boom is remaking the nation’s industrial landscape and raising the prospect of energy independence in the world’s biggest oil consumer.As the industry awaits more pipeline capacity, the US has seen an uptick in oil deliveries by rail and truck.Booming oil and gas production is […]

PARIS, September 12, 2013 (AFP) – An increase in output should help cushion oil markets seized by tension over a possible conflict in the Middle East, the IEA said Thursday, with emerging market nations facing difficulties due to their falling currencies.The slow pace of the global economy led the International Energy Agency to keep its […]

TOKYO, September 10, 2013 (AFP) – Japan called Tuesday for a reduction in the price of liquefied natural gas and a rebalancing of the global market.“I don’t understand this phenomenon,” he told the conference. Hirose added that the vast utility was diversifying its energy sources in order to reduce costs. But officials from gas-producing nations […]

July 31, 2013 (LBO) – Sri Lanka’s state-run ports agency is planning a liquid natural gas terminal in its southern port in Hambantota for power generation and LNG bunkeringis also on the cards, in a strategic plan running up to 2020.SLPA chairman Priyath Wickrema said the strategic plan ‘Vision2020’ will enable Sri Lanka to be […]

July 26, 2013 (LBO) – Chevron Lubricants Lanka Plc said profits in the June 2013 quarter rose 5.5 percent to 562 million rupees from a year earlier, despite falling revenues on lower raw material prices. The firm reported earnings of 4.69 per share in interim accounts filed with the Colombo Stock Exchange. In the six […]