There were on-going discussions on "bringing an oil pipeline from India to Trincomalee
Sinopec has been eying Sri Lankan market for a long time, government officials say
Fuel prices have been more than tripled in the last 12 months after the country faced shortage
The project will be piloted with a 6.83bn won grant
The firm reported earnings of 4.59 rupees per share for the quarter.
Power & Energy Minister Kanchana Wijesekara had said earlier that the shipment would arrive end-July.
Power cuts of 1 hour 40 min in the daytime and 1 hour 20 mins in the night
One trillion rupee hole in the CPC balance sheet
"It started off well but we received many complaints on all the fronts."
Fuel will be issued on a daily or weekly basis from the 12th
a 40,000 metric tonne diesel shipment worth $66.5mln from a UAE-based was due between 8-9 July
From July 12, companies that have the ability to pay for fuel in dollar can open consumer ACC at CPC
Petrol Octane 92 dropped to 1,414 metric tonnes
Gupta said the ships will be arriving either from Singapore or Fujairah, UAE.
Money for medicines allocated
Selected firms will have to import fuel on credit and runs a currency risk
Oil agents asks Central Bank, Treasury to deal directly with principals
Minister Gunawardena requested the public to limit nonessential travel and use fuel sparingly.
“Even today fewer than 10 per cent of buses are running. Drivers are on strike because they have no fuel."
Sri Lanka has totally dependent on India for its fuel requirement from March to mid June.
The last shipment under Indian credit line arrived in on June 16. There has been no shipment since then
Dollar earning companies to pay in US dollars
Oil suppliers wary to supply Sri Lanka after recent downgrades
SriLankan Airlines to import Jet-A1 directly
Plant to attract up to four new players
Ceypetco and CPC prices both raised