New fuel suppliers to be chosen this November

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Suitable suppliers to take part in the Sri Lankan petroleum industry will be identified by November 2022.

Accordingly, suppliers will be chosen from among 24 companies that have expressed interest in importing, distributing, and selling petroleum products through a portion of the 1,250 fuel stations currently managed by Ceylon Petroleum Corporation.

A progress review meeting was held on the expression of interest (EOI) published to invite suppliers to take part in the Sri Lankan petroleum industry.

As a result, among other countries, suppliers interested in participating in the Sri Lankan petroleum industry will come from the United States, China, and India.

Meanwhile, Lanka IOC PLC, the local unit of the Indian Oil Corporation (IOC), will establish 96 new filling stations in the long run.

LIOC Managing Director Manoj Gupta said the stations will be added gradually in the future.

BY Thameenah Razeek