February 26, Colombo (LNW): United Petroleum Australia Pty Ltd has announced a contract with the Ministry of Power and Energy to supply petroleum products in the Sri Lankan market, according to a statement released by the company.
This development follows the company’s selection through a Request for Proposal (RFP) process initiated by the Sri Lankan government last year, aimed at further liberalising the country’s retail petroleum sector.
United Petroleum Australia Pty Ltd, a prominent petroleum trading entity in Australia with over 500 fuel stations across the Australian sub-continent, has diversified its operations into the Sri Lankan market for the first time.
The company also has business interests in Australia and Singapore.
As a billion-dollar enterprise prioritising quality, safety, and environmental standards, United Petroleum aims to introduce best practices to the Sri Lankan retail petroleum market, enhancing product quality and customer service standards.
The company plans to elevate the standards of the retail petroleum sector in Sri Lanka through the provision of high-quality products and services.
Under the contract, United Petroleum Australia will manage 150 existing fuel stations across the country and has the authorisation to establish 50 new fuel stations.
To oversee operations in Sri Lanka, United Petroleum Australia has established a local entity named United Petroleum Lanka Pvt Ltd.
Dr. Prabath Samarasinghe, a former Board Member of CEYPETCO and a respected professional in the petroleum industry, has been appointed as the Director and CEO of the company.
The contract signing ceremony, organised by the Ministry of Power and Energy, saw the participation of Dr. Sulakshana Jayawardena, the Secretary of the Ministry of Power and Energy representing the Government of Sri Lanka, and Mr. Eddie Hirsch, the owner of United Petroleum Australia.
