Reply to thread

Message: <blockquote data-quote="lkdood" data-source="post: 7833736" data-attributes="member: 92282">Sri Lanka's state-owned oil refiner, Ceylon Petroleum  Corporation (CPC), suffered a loss of almost 13 billion rupees in the  first six months of this year, a senior official said.Petroleum ministry secretary Titus Jayewardene said the refiner, which  has a 50,000 barrels a day refinery at Sapugaskanda, north of Colombo,  suffered a loss of 7.5 billion rupees in the first three months alone. "In the first two months of this year because the Sapugaskanda refinery  was closed for maintenance all petroleum imports were refined products,"  Jayewardene told our sister news website Vimasuma.com. "Therefore, the CPC's losses increased sharply." In the next three months the CPC is expected to make a loss of about two  billion rupees a month, he said. The CPC is one of the biggest loss-making state enterprises with its  products heavily taxed by the government which does not allow the  refiner to retail fuel at market prices. The  CPC is also owed billions by state institutions which buy fuel from it.  LBO        </blockquote>

Top Bottom