Sri Lanka chooses Petrochina International and Swiss Singapore International to supply fuel to CPC
Sri Lanka’s Cabinet of Ministers has reportedly granted approval to Petrochina International (Singapore) Ltd. and Swiss Singapore International to supply petrol and diesel to the state-run Ceylon Petroleum Corporation (CPC) for the next eight months.
Oman Trading International was also given a contract to supply 740,000 metric tonnes of LPG to Litro Gas Lanka Ltd. The Cabinet paper was reportedly presented by Sri Lanka’s Prime Minister Mahinda Rajapaksa in his capacity as Finance Minister.
Petrochina International (Singapore) Ltd. will supply 520,000 barrels of diesel (0.05% sulphur) and 680,000 barrels of 92-Octane petrol. The contracts will run from 5 March 2020 to 14 November 2020.
Meanwhile, Swiss Singapore Overseas Enterprises Ltd. has won a contract to supply 2.24 million barrels of diesel. The contract will run from 1 March-31 October 2020.
Both Cabinet papers were presented by Sri Lanka’s Transport, Power and Energy Minister Mahinda Amaraweera since the CPC is under his purview.
OSL take:
Sri Lanka’s petroleum market provides a good business opportunity for foreign businesses engaged in the petroleum sector. Foreign petroleum companies receive the opportunity twice a month to bid to supply petroleum to the Sri Lankan market. Foreign petroleum companies could therefore explore the possibility of supplying petroleum to the Sri Lankan market.
| Article Code : | VBS/AT/24022020/Z_1 |