24 C
Tuesday, March 21, 2023

Up to 700 fuel stations to be given to foreign companies

- Advertisement -

Power and Energy Ministry receives 27 proposals from companies including Sinopec and British Shell

Sri Lanka is to hand over between 500 and 700 fuel stations to foreign oil companies for retail operations, as the country’s fuel import bill has risen to more than USD 2 billion, according to estimates.

According to the Sunday Times, the Power and Energy Ministry is considering 27 proposals from various companies, including the Chinese Sinopec Group and the British Shell company.

“Before making a final decision, the ministry intends to shortlist the proposals.” The sheds will be operated by four companies, according to a senior official.

According to the proposed model, the company would import and supply fuel, while the Ceylon Petroleum Corporation would provide transportation. In exchange, the government will be charged a service fee.

The fuel stations will be chosen from among the 1,200 currently under CPC control.

The moves come as the Power and Energy Ministry has requested USD 200 million from the Treasury and the Central Bank to import next month’s diesel, gasoline, and crude oil requirements.

The CPC has already received confirmation of three diesel shipments of 37,300 MT each and two shipments of Octane 92 petrol of 35,300 MT each for the coming month.

According to CPC estimates, fuel imports will cost more than USD 2 billion over the next four months. USD 246 million is required for confirmed shipments in September alone, while USD 333 million is required for expected shipments.

From October to December, the financial requirements are USD 537 million, USD 468 million, and USD 471 million.


කැබිනට් රැස්වීමේ දී ගත් විශේෂ තීන්දුව

ජාත්‍යන්තර මූල්‍ය අරමුදල මෙරටට ලබාදෙන විස්තීර්ණ ණය පහසුකම සඳහා එම අරමුදලේ විධායක කමිටු අනුමැතිය ලැබුණු වහාම ඒ පිළිබඳව වන පොරොන්දු පත්‍රයට සහ...

BREAKING – IMF ණය පහසුකම අනුමත වෙයි

ජාත්‍යන්තර මුල්‍ය අරමුදල මෙරටට ලබාදෙන විස්තීර්ණ ණය පහසුකම සඳහා එම අරමුදලේ විධායක කමිටුවේ අනුමැතිය හිමිව තිබෙනවා. ඒ අනුව ජාත්‍යන්තර...

පුෂ්පිකාට අධිකරණයේ පෙනී සිටින්නැයි නියෝග

ශ්‍රී ලංකා විවාහක රූ රැජින තේරීමේ දිනයේදී තමාට සුළු තුවාල සිදුකළැයි කියන සිද්ධියට අදාළ පැමිණීලිකාරිය වන පුෂ්පිකා ද සිල්වා මහත්මියට ලබන ජුනි...


Breaking: Dimuth to step down from captaincy

Sri Lanka Cricket Test Skipper Dimuth Karunaratna today said he has informed the SLC selection committee that he will step down from...

“We are no longer a bankrupt nation”: President

President Ranil Wickremesinghe said Sri Lanka will no longer be declared a bankrupt nation in the next few days.

BREAKING – Unit 3 of Norochcholai power plant breakdown again

Unit 3 of the Norochcholai Coal Power Plant has experienced a breakdown, Minister of Power and Energy Kanchana Wijesekera said.