Cabinet nod for fuel distribution by three foreign companies
By Rathindra Kuruwita
Minister of Power and Energy Kanchana Wijesekera announced yesterday that the Cabinet of Ministers has granted approval for allowing China’s Sinopec, Australia’s United Petroleum and RM Parks of the USA, in collaboration with multinational Oil and Gas Company – Shell plc, to enter the fuel retail market in Sri Lanka.
The minister said that each of the three companies would be given 150 dealer operated fuel stations, which are currently operated by Ceylon Petroleum Corporation (CPC). A further 50 fuel stations at new locations will be established by each selected company, he said.
They will be granted licences to operate for 20 years to import, store, distribute and sell petroleum products in Sri Lanka, the minister tweeted.