No risk of the Sapugaskanda Oil Refinery being closed as Singapore has agreed to supply crude oil on a loan basis – CPC Chairman

Date:

Sumith Wijesinghe, Chairman of the Ceylon Petroleum Corporation (CPC) says that there is no risk of the Sapugaskanda Oil Refinery being closed as Singapore has agreed to supply crude oil to Sri Lanka on a loan basis.

He said that crude oil would be procured from Singapore in six stages under an agreement to settle the debt within 180 days.

He also said that the Sapugaskanda oil refinery will be able to continue operations as the stocks of crude oil will reach Sri Lanka by mid-January.

Share post:

spot_imgspot_img

Popular

More like this
Related

THE JOHN KEELLS COLLAPSE: How Sri Lanka’s Mightiest Empire Built a Rs. 210 Billion or US $ 700Mn DEBT House of Cards

EXCLUSIVE: The Devastating Inside Story of John Keells Holdings'...

Hatton National Bank PLC and Nucleus Software Collaborate to Enhance Transaction Banking Experience with FinnAxia®

Sri Lanka- 30th July,2025: HNB PLC, one of Sri Lanka’sleading and most forward-looking financial...

McLarens, which excels in its support for badminton, undertakes the weight of another international competition.

For several years, the Sri Lankan badminton sport has...