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

South Asian Think Tank ambitions Test Sri Lanka’s Policy Credibility

Sri Lanka entered a new chapter in its intellectual...

Sri Lanka’s Growth Outlook Faces Conflicting Fiscal, Monetary Forecasts

Sri Lanka’s economic growth projections for 2025 are under...

Planters renew socio-economic push to reinstate palm oil cultivations 

The Planters’ Association of Ceylon (PA) has renewed calls...

VAT Hikes Deepen Poverty While Rich Escape Fair Tax Share

Sri Lanka’s fragile path to fiscal recovery has exposed...