Tag: Petroleum
Water Boost
Jan 21 (LBO) – Sri Lanka’s power utility is heading into the dry season with its reservoirs full, translating into savings on expensive thermal bills and no power shortages on the cards. Last week, Victoria, the country’s largest reservoir, spilled for the first time in over five years, and water levels are topping 80 percent […]
Coal Options
Jan 20 (LBO) – Work on Sri Lanka’s first 300 MW coal plant is to start in March with Chinese funding, regardless of political pressure, the government said Friday. Jan 20 (LBO) – Work on Sri Lanka’s first 300 MW coal plant is to start in March with Chinese funding, regardless of political pressure, the […]
Different Tune
Jan. 17 (LBO) – Shell Gas back-pedalled on its decision to cut gas supplies following top level talks with government, but panic buying over the weekend sparked shortages in some areas.Jan. 17 (LBO) – Shell Gas back-pedalled on its decision to cut gas supplies following top level talks with government, but panic buying over the […]
Spilleth Over
Jan 13 (LBO) – The largest storage reservoir in the Sri Lankan hydro – electrical generation system spilled early Friday morning, for the first time sicne 1997, a Ceylon Electricity Board (CEB) official said. Jan 13 (LBO) – The largest storage reservoir in the Sri Lankan hydro – electrical generation system spilled early Friday morning, […]
Red Bottom
Shell Gas Lanka Ltd, a unit of Royal/Dutch Shell Group, warned Sunday that gas supplies may stop because company losses ballooned to Rs.742 million after the authorities resisted calls for a retail price increase.Shell Gas Lanka Ltd, a unit of Royal/Dutch Shell Group, warned Sunday that gas supplies may stop because company losses ballooned to […]
Sinking
Ceylon Electricity Board (CEB) wants government to support consumer subsidies as part of a plan to stop losing large sums of money every day.Ceylon Electricity Board (CEB) wants government to support consumer subsidies as part of a plan to stop losing large sums of money every day. Monopoly electricity supplier the CEB is selling power […]
Double Take
Sri Lanka is to double its license fees for lubricant operators and invite more players paving the way for state-run Ceylon Petroleum Corp.to also join the fray, Energy Minister M H M Fowzie said Monday. Sri Lanka is to double its license fees for lubricant operators and invite more players paving the way for state-run […]
Scouts Honour
Sri Lanka’s President Mahinda Rajapakse Wednesday promised to honour US$ 71 million due to Indian Oil Corp., after its local unit lamented that unpaid bills will drive it to technical insolvency. Sri Lanka’s President Mahinda Rajapakse Wednesday promised to honour US$ 71 million due to Indian Oil Corp., after its local unit lamented that unpaid […]
Fuel to the Fire
Shares in retail fuel giant Lanka IOC Ltd., were suspended Tuesday, as the firm grapples with working capital constraints.Shares in retail fuel giant Lanka IOC Ltd., were suspended Tuesday, as the firm grapples with working capital constraints. A Colombo Stock Exchange spokesperson told LBO the stock was suspended pending a clarification from the Indian fuel […]
Moving Parts
Lanka IOC said it is proceeding forward with plan to set up a lubrication blending plant in Trincomalee despite working capital constraints in its fuel retailing business.Lanka IOC said it is proceeding forward with plan to set up a lubrication blending plant in Trincomalee despite working capital constraints in its fuel retailing business. Lubed Up […]
Fire Alarm
A fire broke out at the Kukule Hydropower station late Thursday night due to a suspected technical fault, damaging one of the two 40 MW generators. A fire broke out at the Kukule Hydropower station late Thursday night due to a suspected technical fault, damaging one of the two 40 MW generators. The fire was […]