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Singaporean firms win big Sri Lanka fuel contracts

ECONOMYNEXT – Sri Lanka has awarded two Singaporean companies contracts to supply its state oil refiner and retailer, Ceylon Petroleum Corporation (CPC), with two big shipments of gas oil and gasoline.

The Cabinet of ministers this week gave two term tenders for eight months from 1 March to 31 October 2017 to Swiss Singapore Overseas  Enterprises Pte Ltd. and Gunvor Singapore Pte Ltd.

Swiss Singapore Overseas Enterprises, the lowest of eight bids, will supply 4.2 million barrels of gas oil (diesel) and Gunvor Singapore Pte Ltd., the lowest of five bids, 956,20 barrels of gasoline (petrol).

The government decided to buy single cargoes of fuel under the two term contracts separately given the stock levels at Ceylon Petroleum Storage Terminal Ltd limitations and in line with forecasts for CPC refinery production, according to the Ministry of Petroleum Resources Development.

The fuel cargoes are for delivery to the Colombo port and the mooring buoy off the Muthurajawela oil tank farm.
(COLOMBO, March 16, 2017)

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