Tag: Petroleum

March 12, 2007 (LBO) – Sri Lanka Ports Authority (SLPA) Monday signed up two Chinese firms to build the proposed Hambantota Port in Southern Sri Lanka, with financing expected from the Chinese government. SLPA hopes the project will provide 6,000 direct employment and 50,000 indirect employment opportunities in the area, with nearby Matara, Ratnapura and […]

BEIJING, March 7, 2007 (AFP) – China will no longer allow new coal-based power generators with a capacity below 300,000 kilowatts to be built, hoping to alleviate pressure on the environment, state media reported Wednesday.New coal power generators should be equipped with facilities to reduce sulphur and soot emissions, the China Business News reported, citing […]

March 07, 2007 (LBO) –Mini hydro company Vidullanka has connected a new plant to the national grid the company said Wednesday, which can boost its energy production by more than 66 percent. Vidullanka which operates a 3.2 MegaWatt (MW) plant said a 2MW plant in Batatota has now been connected to Ceylon Electricity Board. The […]

March, 02 (LBO) – The Chinese government would finance up to 85 percent of a planned 420 million dollar a port in Sri Lanka’s southern Hambanthota district, the government’s information office said. “Following the bilateral discussions with the Chinese Government with President Rajapaksa, the Chinese President and Prime Minister have promised to hasten the aid,” […]

February, 27 (LBO) – Lanka IOC, a unit of Indian Oil Corporation emerging from a subsidy and pricing battle with the Sri Lanka government, has turned an operating profit for the past quarter, but interest costs still kept the firm in the red. The firm posted operating profits of 185 million for the quarter ended […]

February 22 (LBO) – The government of Sri Lanka hopes to purchase 100 train carriages from China to develop the island’s dilapidated railway network, officials said Thursday. The carriages will be purchased from China National Machinery Import and Export Corporation, Anura Yapa, Sri Lanka’s information minister said. Sri Lanka’s railway network was built by British […]

February, 15 (LBO) – Sri Lanka is to shortly unveil a new tiered tariff framework for renewable energy suppliers giving existing mini-hydros windfall sweeteners to change-over, officials said. Sri Lanka would be offering cost-based technology-specific and three-tiered tariffs for mini-hydro, biomass and wind energy. Mini-hydro standardized power purchase agreements already signed with the Ceylon Electricity […]

February 14 (LBO) – Sri Lanka’s national power utility has raised the tariff for existing mini-hydro plants by about 19 percent during the crucial wet season, when most of the power is generated. Colombo Stock Exchange has two listed mini-hydro plants, Vallibel Power Eratne and Vidullanka, whose margins are expected to improve with the new […]

February, 13 (LBO) – Ceylon Petroleum Corporation will hold fuel prices steady this month with the help of a tax cut on petrol, a top official said. The CPC is expecting a 5 rupee temporary lifting of excise duty on a litre of petrol, CPC Chairman Ashantha de Mel said. The CPC would have made […]

February, 13 (LBO) – Lanka IOC, a unit of the Indian Oil Corporation, is poised to grab more market share from the country’s dominant state-owned petroleum distributor and gain from a leaner cost base, an equities research house has said. LIOC shares slid below 30 rupees last year after disputed subsidy claims hit the firm’s […]

February 09 (LBO) – Sri Lanka will set up an agency to administer the renewable energy sector in Sri Lanka and also establish a fund to support newer forms of energy, a senior minister said. Sri Lanka’s cabinet of ministers had approved the setting up of Sustainable Energy Authority, but the draft law would have […]