Tag: Petroleum

July 27, 2011 (LBO) – Mc Marine (Pvt) Ltd, a newly incorporated bunkering unit of Sri Lanka’s McLarens shipping group which is planning to cater to ships off the south of the island, has recruited Channa Abeyagunewardena as its chief executive. Sri Lanka started to make greater inroads into bunkering after a state monopoly and […]

July 18, 2011 (LBO) – Sri Lanka’s Hayleys conglomerate has strengthened its bid to provide support for offshore oil exploration work to begin in August by getting required international accreditation on safety and environmental management. Hayleys Energy Services, a logistics provider for the oil and gas industry, said it has got certifications covering quality and […]

July 12, 2011 (LBO) – Sri Lanka’s state-run Ceylon Petroleum Corporation has been asked to pay 162 million dollars to Standard Chartered Bank over oil derivatives it stopped payment on in 2008, according to a judgment by a London court. Extracts from the judgment: SCB Case ¢ SCB’s case is straightforward: it is entitled to […]

LONDON, July 12, 2011 (AFP) – British oil explorer Cairn Energy on Tuesday announced that it had sold 10 percent of its Indian unit to Vedanta Resources for a net cash sum of . 362 billion (978 million euros). India had last month given conditional clearance to the sale of Cairn Energy’s Indian oilfields to […]

July 11, 2011 (LBO) – Cairn India which is exploring for petroleum resources off Sri Lanka has called for proposals for oil spill response equipment and services as it prepares to drill its first well in August this year. The company announcement said delivery of equipment could be either at Colombo or Chennai in south […]

July 07, 2011 (LBO) – Sri Lanka’s government is seeking a new head for the Petroleum Resources Development Secretariat (PRDS), to lead the island’s search for oil and gas resources. The vacancy for the Director General of the Petroleum Resources Development Secretariat has been posted on the website of the organisation, which now comes under […]

July 1, 2011 (LBO) – Long queues of cars have built up around some fuel stations of the Sri Lanka unit of India Oil Corporation after car owners complained of engine trouble after filling up from their competitor. Customers who used petrol sold by state-run Ceylon Petroleum Corporation have complained that they had to replace […]

June 30, 2011 (LBO) – Sri Lanka’s petroleum industries minister has rejected allegations the government imported low quality petrol, saying motorists whose vehicles were damaged had been supplied fuel contaminated by rain and dregs. Susil Premajayantha said motorists who could prove they had been supplied contaminated fuel would be given compensation. He rejected allegations the […]

June 20, 2011 (LBO) – Sri Lanka is holding talks with Iran to get more funds to expand its sole oil refinery after new feasibility studies indicated the cost would rise to two billion US dollars, an official said. Titus Jayewardene, secretary to the petroleum ministry, said the cost of the modernisation to double refining […]

June 19, 2011 (LBO) – A team from Russia’s Gazprom would visit Sri Lanka to discuss oil exploration, building a refinery and using liquefied natural gas in the island following a meeting with visiting President Mahinda Rajapaksa. A government statement said President Rajapaksa met Gazprom chief Alexei Miller at an economy form in St. Petersburg […]

May 31, 2011 (LBO) – Lanka IOC, the Sri Lanka unit of Indian Oil Corporation lost 111 million rupees in the March 2011 quarter, on revenues of 16. 2 billion rupees, an analysis of audited accounts released to the Colombo stock exchange shows. Lanka IOC raised its diesel prices nine rupees above the competitor, state-run […]

May 24, 2011 (LBO) – Sri Lanka is continuing its legal defence in action filed by international banks over petroleum derivatives sold to a state-run oil distributor, the government’s top legal officer said. Fitch Ratings said the fine was bigger than the local branch’s capital but its rating was unaffected due to expected support from […]