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The Inland Freight Equalization Margin (IFEM) is a regulatory measure implemented in Pakistan to equalize the price of petroleum products across different regions of the country. [ 1 ] [ 2 ] It includes the costs for refineries to transport crude oil from its source to their facilities, as well as the expenses for Oil Marketing Companies (OMCs ...
The Sapugaskanda Refinery (also referred to as Sapugaskanda Oil Refinery) is the single largest oil refinery of Sri Lanka.The refinery was built in August 1969 by the Ceylon Petroleum Corporation under the guidance of Iran, [1] initially designed to process 38,000 barrels (6,000 m 3) per stream day of Dubai crude oil, and Arabian light crude 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]
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 ...
The Pakistani government is looking to tame inflation with fuel price cuts and a price-control mechanism, caretaker Prime Minister Anwaar ul Haq Kakar said on Monday. The South Asian country is ...
Pakistan's gas fields are only expected to last for about another 20 years at the most due to heavy industrial usage. [9] [10] The Largest Gas Producing province of Pakistan is Baluchistan. The Sui gas field is the biggest natural gas field in Pakistan. It is near Sui in Balochistan. The gas field was discovered in the late 1952 and the ...
Indian Oil Corporation, will invest Rs. 10 billion (US$62 million for the first phase, US$38 million would be invested in the second phase) in Sri Lanka and will operate 100 fuel stations which it has purchased from the Ceylon Petroleum Corporation [5] In 2003, Sri Lankan Government give to 15 Trincomalee oil tanks, on a 35 years lease for an ...
Litro Gas is Sri Lanka's largest gas company. It controls 85% of Sri Lanka's gas market. The company is wholly owned by Sri Lanka Insurance Corporation.. Established in 1872 as Colombo Gas and Water Company, [3] it was a wholly owned subsidiary of Royal Dutch Shell until 2010, when it was purchased by the government of Sri Lanka.