Tag: Petroleum

April 09, 2007 (LBO) – Sri Lanka’s petroleum utility will get a 33 million rupee payment this week on the expiry of its first hedging contract for imported diesel, a top official said. Last month the utility raised petroleum prices by 7 rupees a litre (about 30 rupee a gallon). Updated The utility first bought […]

April 6 (LBO) – The top official in charge of Sri Lanka’s search for oil has told the corporate sector to be ready to provide the support service and skills required by an offshore petroleum industry. Three of the eight remaining blocks will be opened for bidding this year, with the others following in a […]

March 30, 2007 (LBO) – A 2.2 MegaWatt mini-hydro plant built by the power division of Hemas Holding would be connected to the national grid in June, an official said. Hemas Power, a fully subsidiary of Hemas Holdings, signed an agreement on Friday with the BOI to invest 223 million rupees in the Giddawa mini […]

March 27, 2007 (LBO) – The Asian Development Bank (ADB), which is funding the breakwater and dredging of Colombo port’s expansion project, may take an equity stake in one of its container terminals, an official said. The South Port project will see three terminals being built in the first phase. Updated ADB Country Director Richard […]

COLOMBO, March 26, 2007 (AFP) – Sri Lanka’s only international airport was shut early Monday following a suspected Tamil Tiger attack on an adjoining military airbase, officials said.. Passengers who had boarded aircraft were asked to disembark and taken to a shelter, officials said, adding that the move followed gunfire and explosions heard at the […]

March 26, 2007 (AFP) – Tamil Tiger rebels carried out their first ever air raid Monday, attacking a military base on a daring night-time mission that forced the temporary closure of Sri Lanka’s international airport.At least three airmen were killed and 16 others wounded in the raid on the Katunayake airbase next to the airport […]

March 26, 2007 (AFP) – Hong Kong’s Cathay Pacific Airlines on Monday announced the immediate suspension of flights to Sri Lanka following a rebel air raid on a base next to the island’s only international airport.“Safety is a top priority at Cathay Pacific and a careful assessment of the situation will be made before services […]

March 23, 2007 (LBO) – Sri Lanka’s power utility has got all its troublesome thermal generators on line a top official said, in a week that saw the highest energy generated in a single day as Sri Lankans watched their cricket team thrash Bangladesh. The flow is needed to keep sea water out of the […]

March 20, 2007 (LBO) – The Asian Development Bank has approved a 300 million dollar loan to expand the Colombo Port, the regional lender said Tuesday. The funds will come from its ‘ordinary capital resources’ window at a rate based on the London Interbank offered rate, the bank said. The loan will have a 25-year […]

March 19, 2007 (LBO) – John Keells Holdings (JKH) said Monday it was officially informed by the government that a letter of intent (LOI) would be issued on a private public partnership to reclaim land around the Colombo port. JKH shares closed up 2.25 at 148 rupees on Monday. “We have received notification today that […]

March 15 (LBO) – Sri Lanka has accepted a proposal to reclaim the sea and develop 450 acres of land alongside the Colombo Port by John Keells Holdings (JKH), a senior minister said. Updated/adds quotes “In the committee headed by the president we approved a very important and a flagship project to add 450 acres […]

March 14 (LBO) – Sri Lanka’s power utility is on a drive to provide uninterrupted supply to the country, while facing googlies from depleting hydro reserves, technical glitches, and higher demand from world cup cricket viewers. Meanwhile, the utility’s engineers union has also been warning that additional thermal plants may be needed to bridge a […]