Lankapage Logo Recent Top Stories
CP 14 YEARS
Go Home Home Serving the Sri Lankan community globally since 2000
go to LankaPage.com

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
Leaders of Sri Lanka leftist parties to vote in favor of the 19th Amendment to the Constitution
-- [0 minutes ago]
Train-jeep collision in Sri Lanka kills four
-- [1 hour and 11 minutes ago]
Indian fishermen indulge in illegal acts in Sri Lankan waters, Indian Coast Guard says
-- [1 hour and 47 minutes ago]
Pakistan forces kill terrorist involved in attack on Sri Lanka cricket team
-- [2 hours ago]
Sri Lankan court orders police to charge extremist Buddhist organization
-- [2 hours ago]
Supreme Court decision on Sri Lanka government's RTI Bill and National Audit Bill tomorrow
-- [3 hours ago]
Sri Lanka's opposition objects to composition of proposed Constitutional Council
-- [3 hours ago]
Sri Lankan movement calls off sathyagraha planned to support 19A
-- [3 hours ago]
Sri Lankan Government revives Paranthan chemical factory to produce chlorine requirement
-- [8 hours ago]
Sri Lankan Prime Minister hints about the next general election
-- [9 hours ago]

Copyright © 2000, 2012 by LankaPage.com (LLC) :
The news and other contents on ColomboPage are copyrighted property of LankaPage.com, 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 LankaPage.com, LLC. However, news organizations or broadcasters in Sri Lanka may republish the news items in ColomboPage with proper acknowledgment to ColomboPage.