report in Daily FT, Sept 2, 2023Sinopec Energy Lanka yesterday announced revised fuel prices, but with a competitive edge over other two established players in the market — Ceylon Petroleum Corporation (CEYPETCO) and the Lanka Indian Oil Corporation (LIOC). The China-based company wasted no time in making its presence felt by offering lower fuel prices compared to its local competitors. As per the latest price revision of Sinopec, a litre of 92 Octane Petrol is…
Posts tagged as “Sinopec”
by Rathindra Kuruwita in The Island, May 23, 2023Sri Lanka yesterday signed a long-term contract with Sinopec Fuel Oil Lanka (Pvt) Ltd., to import, store, distribute, and sell petroleum products, the President’s Media Division (PMD) said. The PMD said the contract was signed at the Presidential Secretariat and that the agreement was reached following the recommendations of a Cabinet-appointed special committee. Sinopec Fuel Oil Lanka is a subsidiary of China Petroleum & Chemical Corporation (Sinopec),…
By Asiri Fernando in The Sunday Morning, Mar 26, 2023The Government is considering the release of nearly 450 fuel stations held under the Treasury to the three new international players that are to enter the local fuel market once approved by the Cabinet, The Sunday Morning learns. According to a senior official at the Ministry of Power and Energy, the State-owned properties of the 450 fuel stations are expected to be allocated to the three…