Lankapage Logo Recent Top Stories
Go Home Home Serving the Sri Lankan community globally since 2000
go to

Leading News from Sri Lanka::

* Sri Lanka buys oil products from PetroChina
Tue, Jan 29, 2013, 11:38 am SL Time, ColomboPage News Desk, Sri Lanka.

Jan 29, Colombo: Sri Lanka's state-owned fuel supplier Ceylon Petroleum Corp (Ceypetco) plans to purchase oil products from China's largest oil producer and distributor, PetroChina.

Ceypetco has finalized a term contract for the purchase of nearly 3 million barrels of oil products for delivery over a six-month period from PetroChina, Reuters said in a report Monday.

The deal made on a proposal by Minister of Petroleum Industries Susil Premajayantha, has received cabinet approval subject to stipulated conditions, as recommended by the Special Standing Cabinet Appointed Procurement Committee (SSCAPC).

The term tender would be for combined cargo and would run for six months from Dec 01, 2012 to May 31, 2013.

According to the industry sources, this is the first time Ceypetco is purchasing term barrels from the Chinese company although it has made spot purchases before.

Ceypetco has reportedly bought 675,000 barrels of 0.25 percent sulphur gasoil at a premium of $1.98 a barrel above Singapore quotes and 475,000 barrels of jet fuel at a premium of $1.76 a barrel.

It has also purchased 1.56 million barrels of 90-octane gasoline at a premium of $1.98 a barrel and 125,000 barrels of 95-octane gasoline at a premium of $2.53 a barrel.

** Related Story :: Sri Lanka enters into a six-month agreement to buy oil from PetroChina

ColomboPage - Recent 10 Stories
Sri Lanka's Police commission recommends disciplinary action against officers assaulted HNDA students
Colombo Stock Exchange establishes a Central Counter Party
Chairpersons appointed to parliamentary committees COPE and COPA
Tamil Nadu Chief Minister seeks immediate release of fishermen in Sri Lanka's custody
Finance Minister introduces measures to manage state resources effectively
Families of deceased Sri Lankan migrant workers receive compensation
Sri Lankan government assures no threat to national security from releasing LTTE suspects
President Sirisena arrives in Malta to attend the CHOGM 2015
Sri Lankan President commended for promoting Commonwealth ideals
Presidential Commission names respondents for corrupt activities by Rakna Araksha Lanka

Copyright © 2000, 2012 by (LLC) :
The news and other contents on ColomboPage are copyrighted property of, LLC. Any unauthorized use of any information on ColomboPage may constitute a violation of copyright laws. You need written permission to reproduce, republish, post, transmit, broadcast or distribute, material from this site from, LLC. However, news organizations or broadcasters in Sri Lanka may republish the news items in ColomboPage with proper acknowledgment to ColomboPage.