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The shipping industry is under increasing pressure to decarbonize, but unclear regulatory guidelines, including around what sorts of cleaner fuels large vessels should run, is complicating that ...
Chinese petroleum giant Sinopec signed an agreement with Sri Lanka on Monday to enter the South Asian island country's retail fuel market as it struggles to resolve a worsening energy crisis amid ...
COLOMBO (Reuters) -Sri Lanka's central bank has secured foreign exchange to pay for fuel and cooking gas shipments that will ease crippling shortages, its governor said on Thursday, but police ...
Sri Lanka Navy's SLNS Samudura and USNS Fall River (T-EPF-4) at Hambanthota Port in 2017. In 2020 Sinopec's Sri Lankan unit expanded Sri Lanka’s share of the regional bunker market and invested $5 million on a tanker which flies the Sri Lankan flag. Lanka Marine Services (LMS) partnered with Sinopec in supplying very low sulphur fuel oil ...
Ceylon Petroleum Corporation, commonly known as CEYPETCO (CPC), is a Sri Lankan oil and gas company. Established in 1962 and wholly owned by the Government of Sri Lanka, it is the largest oil company in Sri Lanka. It was formed in 1961 by nationalisation and expropriation of all private oil companies in Sri Lanka at the time of its formation. [4]
The fuel shortfalls have also led to long lines at petrol and diesel stations over the past months. IOC supply is supported by an Indian Line of Credit of US$500 million. [7] In August 2022 Sri Lanka's Ministry of Power and Energy has authorised the establishment of 50 new fuel stations by Lanka IOC. [8]
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The Sri Lanka fuel crisis began on 3 November 2017 when rumours started spreading that a fuel shipment belonging to Lanka IOC (Indian Oil Company) was rejected. Later on the rumour was confirmed as legitimate and the reason given was that the fuel in the rejected shipment was not up to standards. [1]