Tag: Petroleum

Jan 04, 2007 (LBO) – Sri Lanka’s second cooking gas retailer raised prices by 17 percent Thursday on a formula approved by the consumer authority while the minister in charge said advance notice of price increases should not be given. The Ceylon Petroleum Corporation has not raised prices since July. After fuel prices were fixed, […]

NEW YORK, Jan 2, 2008 (AFP) – Oil prices spiked to record closing highs within striking distance of 100 dollars a barrel Wednesday, triggering inflation jitters that weighed on the US stock market. “Crude prices are drawing some support from (expectations of) a further decline in crude stocks in a weekly US inventories report,” said […]

SINGAPORE, Jan 3, 2008 (AFP) – World oil prices eased in Asian trading on Thursday after briefly hitting 100 dollars a barrel for the first time, jolting oil-dependent economies.In morning trade, New York’s main contract, light sweet crude for February delivery, was 43 cents lower at 99.19 dollars a barrel. The contract closed 3.64 dollars […]

Dec 20, 2007 (LBO) – Sri Lanka plans to invite oil companies to explore for petroleum deposits in new areas in the north of the island, a senior minister said, where Tamil Tiger rebels are active. The petroleum ministry has been given the government nod to kick off exploration in the Sri Lankan side of […]

Dec 02, 2007 – Sri Lanka’s plans to double its refinery capacity, which were dealt a severe blow after politicians fixed fuel prices last August, would take off with Iranian help in 2008, officials said. . The government of Iran would first fund and conduct a feasibility study and give a loan with a ten […]

Dec 01, 2007 (LBO) – Sri Lanka’s power engineers are protesting a controversial deal with Enercon, an Indian energy firm, alleging a massive procurement scandal after authorities approved the project when it was shot down by an evaluation committee. The Ceylon Electricity Board Engineers Union (CEBEU) said the government was about to award a letter […]

Nov 27, 2007 (LBO) – Lanka IOC, a unit of Indian Oil Corporation, had applied to supply aviation fuel at a proposed new airport in southern Sri Lanka, a top official said. “We have applied to the government to provide aviation fuel at the new Weerawila airport,” Lanka IOC managing director K Ramakrishan told LBO. […]

Oct 30, 2007 (LBO) – Sri Lankan mini hydro power company Vidullanka Tuesday said net profit for the first half ending September 30, 2007 was up nine percent year-on-year to 24.6 million rupees. Group revenue rose 13.5 percent to 83.5 million rupees over the same period, according to interim results sent to the Colombo bourse. […]

Oct 29, 2007 (LBO) – Chevron Lubricants Lanka said net profit for the September quarter shot up 78 percent to 325 million rupees from the same quarter a year ago. The firm, the Sri Lankan unit of the Chevron Texaco oil multinational, said sales were up eight percent to 2.1 billion rupees. “The top line […]

Oct 18, 2007 (LBO) – Two of Sri Lanka’s top listed conglomerates, John Keells Holdings and Hayleys are positioning themselves to exploit business opportunities expected to emerge from an anticipated oil strike offshore. The aim of sending the business delegation to Norway was to widen the scope for business collaborations in new sectors with high […]

TOULOUSE, France, Oct 15, 2007 (AFP) – Airbus was to make the first delivery of its A380 superjumbo jet on Monday to Singapore Airlines, with elation and relief expected at a ceremony in southern France to mark the occasion. The heads of both companies were expected to hail a major advance in air travel as […]