Sri Lanka to lease 450 state-owned fuel stations for Sinopec, United Petroleum, Australia & RM Parks of USA in a collaboration with Shell Plc

monson

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    ECONOMYNEXT – Sri Lanka cabinet has granted approval for three oil companies from China, the United States, and Australia in collaboration with Shell Pl to lease 150 fuel station for each company to operate in local market, Minister of Energy Kanchana Wijesekera said.

    “Cabinet approval was granted to award licenses to Sinopec, United Petroleum, Australia & RM Parks of USA in a collaboration with Shell Plc to enter the Fuel Retail market in Sri Lanka,” Wijesekera said in a twitter message.

    “Energy Committee & relevant other procurement committees had given their approval & recommendation to award the 3 companies the licenses to operate,” Wijesekera said.

    The move comes as President Ranil Wickremesinghe administration has decided to sell government stake in the seven key state owned enterprises including loss-making fuel retailer Ceylon Petroleum Corporation (CPC).


    “The 3 companies will be allocated 150 Dealer operated fuel stations each which are currently operated by CPC and they will be granted a license to operate for 20 years to import, store, distribute and sell petroleum products in Sri Lanka.

    “A further 50 fuel stations at New locations will be established by each selected company.”

    The discussions to allow foreign players to enter into local fuel distribution began in June 2022, during the peak of the economic crisis, where the government was struggling to supply fuel to the demand.

    Currently Sri Lanka has CPC and a subsidiary of Indian Oil Corporation (Lanka IOC) as the fuel distributors in a duopoly market.

    Minister Wijesekera last year said that new companies entering into Sri Lanka may be given 200 to 300 filling stations out of the 1,190 operated by state-run Ceylon Petroleum Corporation.

    At the moment 90 percent of fuel distribution is done by state-run Ceylon Petroleum Corporation and about 10 percent by Lanka IOC. (Colombo/ March27/2023)

    - https://economynext.com/sri-lanka-t...ese-us-australian-firms-with-shell-jv-116620/
     

    JBLs

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    දැන් තමයි පකයන්ගේ අයිස් තට්ටු දියවෙන්නෙ :yes::yes:
     

    emoji diaries

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    Homagama
    ECONOMYNEXT – Sri Lanka cabinet has granted approval for three oil companies from China, the United States, and Australia in collaboration with Shell Pl to lease 150 fuel station for each company to operate in local market, Minister of Energy Kanchana Wijesekera said.

    “Cabinet approval was granted to award licenses to Sinopec, United Petroleum, Australia & RM Parks of USA in a collaboration with Shell Plc to enter the Fuel Retail market in Sri Lanka,” Wijesekera said in a twitter message.

    “Energy Committee & relevant other procurement committees had given their approval & recommendation to award the 3 companies the licenses to operate,” Wijesekera said.

    The move comes as President Ranil Wickremesinghe administration has decided to sell government stake in the seven key state owned enterprises including loss-making fuel retailer Ceylon Petroleum Corporation (CPC).


    “The 3 companies will be allocated 150 Dealer operated fuel stations each which are currently operated by CPC and they will be granted a license to operate for 20 years to import, store, distribute and sell petroleum products in Sri Lanka.

    “A further 50 fuel stations at New locations will be established by each selected company.”

    The discussions to allow foreign players to enter into local fuel distribution began in June 2022, during the peak of the economic crisis, where the government was struggling to supply fuel to the demand.

    Currently Sri Lanka has CPC and a subsidiary of Indian Oil Corporation (Lanka IOC) as the fuel distributors in a duopoly market.

    Minister Wijesekera last year said that new companies entering into Sri Lanka may be given 200 to 300 filling stations out of the 1,190 operated by state-run Ceylon Petroleum Corporation.

    At the moment 90 percent of fuel distribution is done by state-run Ceylon Petroleum Corporation and about 10 percent by Lanka IOC. (Colombo/ March27/2023)

    - https://economynext.com/sri-lanka-t...ese-us-australian-firms-with-shell-jv-116620/
    මැතිණි හුම්ති කරපු දේ දැන්වත් රිවස් වෙන එක ⁣හොදයි. රටේම අම්මන්ඩි ගගා ඉදලා කෙලියා ඕකි.
     
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    monson

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    Opening of local fuel market is welcomed –SJB MP​

    28 March 2023



    Opening up of the local fuel sales market is a welcome move, a Samagi Jana Balwegaya (SJB) MP said today.

    SJB Deputy National Organizer and official Spokesman S. M. Marikar was referring to Monday’s cabinet decision to allow two more foreign companies to enter into the local fuel market.

    “Opening up the fuel sales market is a welcome move as the consumers will benefit from it at the end of the day. Competitiveness will increase when there are several players in the market and thus pave the way for frequent price reductions,” Marikar said.

    “It is advisable to open up the education and the health markets as well. Private sector should be allowed to open up more hospitals so that Sri Lanka will be able to attract people in countries such as Maldives to come to this island for medical treatment, he added.

    “One must not think that I am favourable towards the incumbent President and the government when I welcome the opening of the fuel market. We welcome any move to which SJB could agree,” he also said.

    Further, he said there are different options when restructuring state owned enterprises. “One can follow the Singaporean model where an institution made up of both the state sector and the private sector could be set up to run government institutions while the private sector could be given the task of managing the institutions,” he said in this regard.

    Whilst lauding the incumbent President for changing the ideologies of SLPP which opposed the IMF and the restructuring of state institutions, the SJB MP opposed the President at the same time. “Democratic Ranil Wickremesinghe has died and only Ranil Wickremesinghe the dictator is alive today,” he said.(Yohan Perera)


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    ------ Post added on Mar 31, 2023 at 6:25 PM
     
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