Sri Lanka awards diesel deal to Singapore and crude oil deal to Nigeria - Opportunity Sri Lanka
Sri Lanka awards diesel deal to Singapore and crude oil deal to Nigeria

Sri Lanka awards diesel deal to Singapore and crude oil deal to Nigeria

The government of Sri Lanka has reportedly awarded a long-term eight-month contract for the supply of diesel to PetroChina International (Singapore) Ltd. and nine-month delivery of Murban crude oil to Conscio Ltd. in Nigeria.
The successful bidders were recommended by the Special Standard Procurement Committee appointed by the Cabinet of Ministers, which approved the awarding of contracts, local media reports stated.
PetroChina International is the “Trading Arm” of PetroChina Company Ltd, and is one of the world’s largest global commodity trading companies, the report added.
The government of Sri Lanka has however not revealed the price at which these contracts have been awarded.
According to reports, the diesel contract is 1,137,500 barrels of diesel (maximum sulphur percentage 0.05) and 262,500 barrels of diesel (maximum sulphur percentage 0.001) and delivery is from 1 June 2021 to 31 January 2022.

OSL take:

The continuous expansion in Sri Lanka’s energy sector has opened up the requirement of a steady supply of fuel to the local market. With Sri Lanka fast becoming a business hub in the South Asian region, the demand for power and energy solutions has presented many business/investment opportunities to the discerning foreign business/investor.

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Article Code : VBS/AT/20210618/Z_3

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