Tag: Petroleum

June 12, 2007 (LBO) – A blast ripped through a vital high voltage electricity transmission line in a suburb of Sri Lanka’s capital Colombo, but it failed to disrupt power supplies, officials and police said. It was not known who carried out the latest attack, but Sri Lanka’s Tamil Tiger guerillas had earlier bombed a […]

June 12, 2007 (AFP) – Tamil Tiger saboteurs came close to cutting off a large chunk of Sri Lanka’s electricity supply Tuesday by skirting tight security and setting off a bomb against a key power line, officials said.The device, which was rigged to a timer, was attached to a steel pylon located between a key […]

TEHRAN, June 6, 2007 (AFP) – Iran hopes to begin a much-delayed plan to ration petrol in the next two weeks amid continued uncertainty over its launch date, officials said on Wednesday. The plan, aimed at reducing colossal subsidies paid by the state to finance oil-rich Iran’s frenzied petrol consumption, envisages forcing consumers to pay […]

June 10, 2007 (LBO) – Sri Lanka is on the brink of the dangerous path of petrol and diesel rationing, which will give set amounts of subsidized fuel to users, reports said. Related Story Rata Perata: Oil-rich Iran to ration petrol to get out of subsidy fiasco Updated The weekly Nation newspaper said the government […]

June 6, 2007 (LBO) – Sri Lanka’s state electricity utility warned that power cuts would be imposed if monsoon rains do not come in the next two weeks to boost its hydro storage capacity. It engineers have warned the media last month that another unsuitable 300 MegaWatt thermal plant is being forced on the utility […]

June 05, 2007 (LBO) – Lanka IOC, a unit of the Indian Oil Corporation, has started a marine bunkering operation by supplying diesel to ships off the east coast of the island, an official said.“We made a humble beginning using our facilities in Trincomalee by offering bunkering services selling diesel oil to two vessels a […]

May 30, 2007 (LBO) – India’s National Thermal Power Corporation (NTPC) which is hoping to build a coal plant with Sri Lanka’s power utility has asked for Indian government help to change its proposed location, reports said. Eastern Sri Lanka has seen heavy fighting in the past year as government troops systematically took back areas […]

May 29, 2007 (LBO) – Globeleq, a unit of CDC investment group which is raising a billion dollars by selling power sector assets in Sri Lanka and other countries, says it is looking for new projects. “This is excellent news for emerging markets. Greater access to reliable energy continues to be a high priority for […]

May 28, 2007 (LBO) – The Malaysian firm Tanjong, controlled by billionaire Ananda Krishnan, has taken a foothold in Sri Lanka’s power sector by acquiring an international energy firm with investments in the country, the company said Monday. In a filing at the Kuala Lampur stock exchange Tanjong said it had taken over Globeleq, a […]

May 25, 2007 (LBO) – The Sri Lanka unit of the Indian Oil Corporation is planning to boost its 13 percent share in the island’s lube business after getting the government nod to enter the licensed industry, the company said Friday. The company said the secretary of Sri Lanka’s Ministry of Petroleum and Petroleum Resources […]

May 24, 2007 (LBO) – Lanka IOC, a unit of the Indian Oil Corporation has posted higher profits in the March quarter helped by a provision write-back and supply of refined products to the Ceylon Petroleum Corporation. Lanka IOC posted net profits of 874 million rupees in the 3-months to March (344.7 million rupees in […]

May 11, 2007 (LBO) — Sri Lanka plans to double the price of lottery tickets and use the extra cash to build a second international airport in Weerawila, the National Lotteries Board has said.From Thursday, the Bandaranaike International Airport, which shares a runway with an adjoining military base, will close between 10:30 pm (1700 GMT) […]