Tag: Petroleum

Agreement to commission Norochcholai coal power plant signed in China, on Tuesday.“Ceylon Electricity Board (CEB) Chairman Ranjit Fonseka and China National Machinery and Equipment Import and Export Corporation representative, Xia Biao signed the MoU,” said a statement from the President’s office on Tuesday. “Presidents Chandrika Kumaratunga and Hu Jintao witnessed the signing in Beijing,” said […]

The CEB has re-issued its gazette announcement to increase electricity charges and has postponed the price increase.The CEB has re-issued its gazette announcement to increase electricity charges and has postponed the price increase. The increase in electricity fixed charges, that was due in August, will hit consumers from October 1, under a new gazette notice […]

As oil threatens to hurtle past US$ 70 a barrel, state oil giant Ceypetco is urging the government to raise prices, with its oil bill likely to shoot past US$ 1.4 billion this year. As oil threatens to hurtle past US$ 70 a barrel, state oil giant Ceypetco is urging the government to raise prices, […]

Petroleum retailer Lanka IOC is negotiating with the Public Enterprise Reform Commission (PERC) which is contesting the company’s claim to a petroleum subsidy based on an agreed formula. Petroleum retailer Lanka IOC is negotiating with the Public Enterprise Reform Commission (PERC) which is contesting the company’s claim to a petroleum subsidy based on an agreed […]

SINGAPORE, Aug 21 (AFP) – Asia’s oil-guzzling economies are bracing themselves for the worst as crude prices threaten to hit 70 dollars a barrel, stoking fears of slower growth, soaring inflation and rising interest rates. SINGAPORE, Aug 21 (AFP) – Asia’s oil-guzzling economies are bracing themselves for the worst as crude prices threaten to hit […]

An agreement for Sri Lanka’s first coal power plant will be signed in China in end August. President Chandrika Bandaranaike Kumaratunga will sign an agreement for Sri Lanka’s first coal power plant during her visit to China in end August, said Cabinet spokesperson Nimal Siripala de Silva. The US$ 94,500 agreement will cover the first […]

Sri Lanka’s first bidding round offering potential blocks in the Mannar Basin for oil exploration could kick off as early as October this year. Sri Lanka’s first bidding round offering potential blocks in the Mannar Basin for oil exploration could kick off as early as October this year. “We plan to hold the road show […]

Laugfs Gas will cut Rs. 101 off its 12.5 kg retail cylinder price, after the Govt., last week removed the 15% VAT Value Added Tax) on Liquid Petroleum Gas (LPG).Laugfs Gas will cut Rs. 101 off its 12.5 kg retail cylinder price, after the Govt., last week removed the 15% VAT Value Added Tax) on […]

Ceylon Petroleum Corp (CPC) is issuing additional stocks of petrol on Saturday, to prevent motorists from triggering another panic attack on Sri Lankan fuel sheds, its Chairman said.Ceylon Petroleum Corp (CPC) is issuing additional stocks of petrol on Saturday, to prevent motorists from triggering another panic attack on Sri Lankan fuel sheds, its Chairman said. […]

Sri Lankan motorists queued up at petrol sheds late Friday in a bout of panic buying on rumours that fuel shipments due early next week were being delayed.Sri Lankan motorists queued up at petrol sheds late Friday in a bout of panic buying on rumours that fuel shipments due early next week were being delayed. […]

The government is to get Attorney General’s advice to take back a one third stake in the retail fuel sector held by the Treasury, and hand it back to state owned Ceypetco. The government is to get Attorney General’s advice to take back a one third stake in the retail fuel sector held by the […]