A minister said that 24 companies from India, United Arab Emirates (UAE), Saudi Arabia, USA, China, Russia, UK, Malaysia, Norway and Philippines are interested in oil business in Sri Lanka.
Power and Energy Minister Kanchana Wijesekera said on Sunday evening that the ministry will appoint a committee to review the expressions of interest (EOIs) submitted by foreign companies and complete the process within six weeks, Xinhua reported.
Wijesekera said companies in petroleum-producing countries were invited to import, distribute and sell petroleum products in Sri Lanka.
The minister added that 700 petrol pumps under the state-owned Ceylon Petroleum Corporation (CPC) could be given to selected companies and the selected companies could also use other CPC facilities for commercial purposes.
Currently, CPC and Indian Oil Corporation of Lanka are allowed to distribute fuel to retail customers.
Wijesekera said CPC, which accounts for 80 percent of the retail fuel market, could not continue supplying fuel due to the dollar shortage.
— No matter
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(Only the headline and image for this report may have been reproduced by Business Standard staff; the rest of the content was generated automatically from the syndicated feed.)
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