Tag: Petroleum

Sri Lanka’s power demand peaked at a new high of 1559.9 MW last night, as people plugged in to watch and listen with bated breath to the government’s maiden budget.Sri Lanka’s power demand peaked at a new high of 1559.9 MW last night, as people plugged in to watch and listen with bated breath to […]

Giving a brief respite to the cash-strapped government, Malaysian State Oil Company Petronas has agreed to defer crude oil payments for up to six months to help Sri Lanka manage the exchange rate crisis.Giving a brief respite to the cash-strapped government, Malaysian State Oil Company Petronas has agreed to defer crude oil payments for up […]

Shell Gas says cylinder prices could spiral to Rs. 1020 levels by December, come winter, an accumulated price squeeze and a US$ 180 mn loss for the first nine months this year.Shell Gas says cylinder prices could spiral to Rs. 1020 levels by December, come winter, an accumulated price squeeze and a US$ 180 mn […]

India has come through with a US$ 150 mn credit line, allowing Sri Lanka to fill up her fuel tanks with refined petroleum products for six months.India has come through with a US$ 150 mn credit line, allowing Sri Lanka to fill up her fuel tanks with refined petroleum products for six months. Indian state […]

The CEB Engineers Union suspended a planned token strike to be held on Wednesday, subject to further talks with the Government on the coal and Upper Kotmale projects.The CEB Engineers Union suspended a planned token strike to be held on Wednesday, subject to further talks with the Government on the coal and Upper Kotmale projects. […]

The Ceylon Electricity Board Engineers’ Union is threatening to plunge the country into darkness if the government fails to find sustainable solutions to reduce power prices in the country. The Ceylon Electricity Board Engineers’ Union is threatening to plunge the country into darkness if the government fails to find sustainable solutions to reduce power prices […]

A top bureaucrat said the utilities regulator already set up will be made fully operational next year. A top bureaucrat said the utilities regulator already set up will be made fully operational next year. Mano Tittawella, the Chairman of Strategic Enterprises Management Agency (SEMA), told businessmen that the multi sector regulator, Public Utilities Commission of […]

Sri Lanka’s foreign reserves have fallen to US$ 1.9 bn in October due to higher oil imports, but the government is still fighting shy to hedge its crude imports, Treasury Secretary said.Sri Lanka’s foreign reserves have fallen to US$ 1.9 bn in October due to higher oil imports, but the government is still fighting shy […]

Lanka IOC is opting for a book building process to raise up to Rs.2.4 bn through a public offering to issue 1.33 mn shares, its CEO said. Lanka IOC is opting for a book building process to raise up to Rs. 2.4 bn through a public offering to issue 1.33 mn shares, its CEO said. […]

Shell Sri Lanka is gearing up for a due diligence of local operations, falling in line with parent plans to sell off its global LPG business, and grow its hunt for oil.Shell Sri Lanka is gearing up for a due diligence of local operations, falling in line with parent plans to sell off its global […]

A Water Board proposal to hike tariffs could see rates doubled, with 70 percent of domestic users in the first 20 unit band, seeing prices raised in three slabs.A Water Board proposal to hike tariffs could see rates doubled, with 70 percent of domestic users in the first 20 unit band, seeing prices raised in […]

The Swedish Government pitched in with a US$ 20 mn loan on Friday to light up villages, as well as small and medium industries in rural Sri Lanka.The Swedish Government pitched in with a US$ 20 mn loan on Friday to light up villages, as well as small and medium industries in rural Sri Lanka. […]