Tag: Petroleum

Feb 12, 2008 (LBO) – Lanka IOC is looking to extend its bunker business once new pipelines connecting the Colombo port with storage terminals are laid, an official said. The pipes would be laid by the common infrastructure firm, Ceylon Petroleum Storage Terminals Ltd (CPSTL), which is jointly owned by Lanka IOC, the state-owned Ceylon […]

Feb 08, 2008 (LBO) – A multi-million dollar project to build a new container port in Colombo is on track despite lengthy delays, a Sri Lankan government minister has assured the island’s shipping community. The government plans to build a new deep-water port next to Colombo, called the Colombo South Port, as well as build […]

Feb 05, 2008 (LBO) – None of the world’s major petroleum companies has bid for the offshore exploration blocks offered by the Sri Lankan government in the Mannar Basin, despite initial interest, officials said. “We knew from the beginning that the opportunity in Sri Lanka in relative terms was small – considering that globally they […]

Feb 01, 2008 (LBO) – Two UAE petroleum firms have won Sri Lankan government approval to build the island’s second refinery with an investment of 1.2 billion dollars, a senior minister said. . Trans Asia Gas International LLC and Star Petro Energy LLC of the UAE plan to build a 100,000 barrels-per-day refinery in the […]

Feb 01, 2008 (LBO) – An oil exploration block nearest to India off Sri Lanka’s northwestern coast has become hot property with three petroleum firms chasing after it, the petroleum ministry said. The southernmost block of the three offered by Sri Lanka in the Mannar Basin, stretching from the coast to the maritime boundary with […]

Jan 31, 2008 (LBO) – Sri Lanka is evaluating bids for offshore oil exploration in the island’s north-east from firms in Cyprus and India, petroleum minister A H M Fowzie said. The island has put three exploration bids on offer in the Mannar basin area. The bids closed today. ONGC Videsh and Cairn India from […]

Jan 29, 2008 (LBO) – India’s Cochin International Airport Limited (CIAL) says it is interested in building an airport in southern Sri Lanka and a delegation is visiting the island this week for talks. Sri Lanka has proposed a second international airport in the southern town of Weerawila in the Hambantota district. CIAL said its […]

Jan 18, 2007 (LBO) — Sri Lanka’s opposition has added fuel to the growing fire over petroleum firms fleecing petrol users to give subsidies to diesel consumers especially in commercial sectors.Sri Lanka’s government also taxes petrol users heavily but now the two main fuel distributors, Ceylon Petroleum Corporation and Lanka IOC, a unit of Indian […]

Jan 18, 2008 (LBO) — Sri Lanka’s state-run Ceylon Petroleum Corporation (CPC) refinery expansion may be doubled to a 100,000 barrels-per-day project and its cost may go up to a billion dollars, a top official said.“An Iranian team has already started a feasibility project and now we are looking at a bigger project, which may […]

Jan 17, 2007 (LBO) – Sri Lanka’s state-owned Ceylon Petroleum Corporation (CPC) has struck a deal with Trafigura, a petro firm in Singapore, to get up to 500 million dollars of supplier’s credit for diesel, a top official said. Trafigura will give CPC 6-months of supplier’s credit at London Interbank Offered Rate plus 1.6 percent, […]

Jan 16, 2008 (LBO) — Sri Lanka’s downstream petroleum sector is moving to SAP enterprise resources planning software, which will be implemented by the Indian Oil Corporation, officials said.The 350 million Sri Lanka rupee project will see Ceylon Petroleum Storage Terminals Ltd (CPSTL), a common user facility, running the software, with Ceylon Petroleum Corporation (CPC) […]

Jan 13, 2008 (LBO) – Sri Lanka has raised fuel prices from midnight Sunday with petrol and furnace oil going up by 10 rupees, diesel 5 rupees and kerosene 2 rupees, the state-run Ceylon Petroleum Corporation (CPC) said. The new price of 90-octane petrol is 127.00 rupees, 95-octane petrol 130.00, auto diesel 80.00, super diesel […]