Tag: Petroleum

A US$ 800 mn refinery at Sapugaskanda has got the Cabinet nod, in a joint venture with US based Global Energy and Industrial Operations Inc. A US$ 800 mn refinery at Sapugaskanda has got the Cabinet nod, in a joint venture with US based Global Energy and Industrial Operations Inc. Cabinet approval was given for […]

United National Party (UNP) said last week they would recommence work to build a thermal power station at Kerewelapitiya abandoning the west coast coal power plant option.United National Party (UNP) said last week they would recommence work to build a thermal power station at Kerewelapitiya abandoning the west coast coal power plant option. Government, that […]

Sri Lanka is close to signing a US$ 800 mn joint venture with a US based energy firm, to double oil refining capacity at its Sapugaskanda refinery and save on its fuel bill.Sri Lanka is close to signing a US$ 800 mn joint venture with a US based energy firm, to double oil refining capacity […]

Renewable energy player Vidulanka Ltd plans to tap the capital markets next year to raise around Rs.265 million to fund upcoming power projects, officials said Wednesday.Renewable energy player Vidulanka Ltd plans to tap the capital markets next year to raise around Rs. 265 million to fund upcoming power projects, officials said Wednesday. The power producer […]

Demand for petrol is increasing in Sri Lanka despite two price increases this year, says the Ceylon Petroleum Corporation (CPC).Demand for petrol is increasing in Sri Lanka despite two price increases this year, says the Ceylon Petroleum Corporation (CPC). According to CPC data, average petrol consumption per day, is now around 1,200 MT, compared to […]

CEB engineers have sought assurances from UNP that a proposed coal power plant in Puttlam won’t be scraped as its board of directors objected to the General Manager taking the lead on the project.CEB engineers have sought assurances from UNP that a proposed coal power plant in Puttlam won’t be scraped as its board of […]

Power generation company Lakdhanavi Limited will de-list from the Colombo Stock Exchange, after it listed four years ago to be eligible to bid for a power project. A fully owned subsidiary of Lanka Transformers, Lakdhanavi says its shares have not been traded since and its shareholders no longer want it to be publicly held. “We […]

Saudi Arabia agrees to cut import duties and open its agriculture, goods and services markets, including oil markets, to the US. Saudi Arabia agrees to cut import duties and open its agriculture, goods and services markets, including oil markets, to the US. The owner of a quarter of the world’s known oil reserves made its […]

The Sri Lankan government is trying to partly offset monies due to Indian Oil Corp’s local unit by offering assets, treasury bonds and cash, as fuel subsidy payments threaten to snowball to US$ 140 million by year end, officials said Friday.The Sri Lankan government is trying to partly offset monies due to Indian Oil Corp’s […]

Lanka IOC, a unit of Indian Oil Corp., has quietly slipped the brakes on its expansion drive, as the Sri Lankan government owes US$ 60 million todate by way of fuel subsidies, a top official said Thursday.Lanka IOC, a unit of Indian Oil Corp., has quietly slipped the brakes on its expansion drive, as the […]