Sri Lankan Chevron unit wins lubricant deals for power sector
ECONOMYNEXT- The Sri Lankan unit of Chevron has won several tenders to supply lubricants to state-owned power stations and transport services, the cabinet office said.
The Cabinet of Ministers on February 05 approved Power and Renewable Minister Ravi Karunanayake’s proposal to provide a 925,000 litre lubricant tender for barge-mounted power generators to Chevron Lubricants Lanka Plc.
The firm was also given a tender to supply 1.1 million litres of lubricants to the Sapugaskanda power station
The tenders to supply diesel and lubricants for buses in the Sri Lanka Transport Board were awarded to Lanka IOC Plc, Chevron, and McLaren’s Lubricants Limited based on a proposal made by Transport and Civil Aviation Minister Arjuna Ranatunga.
The recommendation for the tender awards were made by the Standing Cabinet Approved Procurement Committee.
Chevron has been steadily losing market share over the past decade, falling from 78 percent of sales volume in 2008 to 39.9 percent in 2017.
The firm’s market share in the third quarter of 2018 was 37.2 percent.
Chevron’s share at the Colombo Stock Exchange closed flat at 74 rupees on Wednesday. (Colombo/Feb06/2019-SB)