United Petroleum enters Sri Lanka’s fuel market, secures supply contract
United Petroleum Australia Pty Ltd has entered into a contract with the Ministry of Power and Energy to supply petroleum products in the Sri Lankan market, a statement from the company said.
This event came to fruition after the company was selected based on the Request for Proposal (RFP) issued by the Sri Lankan government to further liberalize the country’s retail petroleum sector early last year.
United Petroleum Australia Pty Ltd is a leading petroleum trading company in Australia, owning over 500 fuel stations throughout the Australian subcontinent. The United group also has many other businesses in Australia and Singapore, and this marks the first time the company has expanded its retail petroleum business outside Australia.
United is a billion-dollar company with a focus on quality, safety, and the environment. The owners of the company believe that they should be able to benchmark good practices in the Sri Lankan retail petroleum market and enhance the quality of products and services for its customers.
United plans to upgrade and uplift the standards of the retail petroleum sector in Sri Lanka with quality products and services. The company has been assigned 150 existing fuel stations around the country and has the right to build 50 new fuel stations under the ownership of United.
United Petroleum Australia has incorporated a company in Sri Lanka, namely United Petroleum Lanka Pvt Ltd., to carry out the operations. Dr. Prabath Samarasinghe, a former Board Member of CEYPETCO and a renowned professional in the petroleum industry, has been assigned the responsibility as Director and CEO of the company.
Dr. Sulakshana Jayawardena, the Secretary of the Ministry of Power and Energy representing the Government of Sri Lanka, and Mr. Eddie Hirsch, the owner of United Petroleum Australia, signed the contract at the event organized by the Ministry of Power and Energy.
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