CPC saves USD 300M – CPC Chairman

CEYLON TODAY | Published: 2:00 AM Jan 21 2021
News CPC saves  USD 300M – CPC Chairman

The Ceylon Petroleum Corporation (CPC) has saved USD 300 million in 2020, mainly due to the price reduction of a barrel of crude oil in the world market, CPC Chairman Sumith Wijesinghe informed the Committee on Public Enterprises (COPE).

COPE met on 19 January to discuss the Special Audit Report on the storage and distribution of petroleum.

Ministers Mahindananda Aluthgamage, Mahinda Amaraweera, State Minister Indika Anuruddha, MPs Anura Kumara Dissanayake, Patali Champika Ranawaka, Nalin Bandara, Eran Wickramaratne, Premnath C. Dolawatta, S.M. Marikkar, S. Rasamanikkam and Isuru Dodangoda were present at this meeting. MP Isuru Dodangoda also participated as an observer.

Discussions were also held regarding the pipeline carrying oil from the Port premises to the Kolonnawa storage. Measures have already been taken to repair it, officials said. Measures have also been taken to house those living by the side of the existing pipeline to new shelters.

At this juncture, Marikkar pointed out the need to provide a house for each of these families.

The COPE also drew attention to the possibility of using existing oil tanks in the Trincomalee and Hambantota areas to meet the needs of the CPC. 

Officials responded that steps have been taken to develop Muthurajawela and Kolonnawa terminals to improve the storage capacity of fuel.

COPE Chairman Prof. Charitha Herath instructed CPC officials to submit a feasibility report to COPE on the capabilities of these developments.

The committee also drew attention to the commencement of oil transport by train and it was revealed that the 30 per cent of fuel is already being transported by train and will be increased to 42 per cent soon. 

CEYLON TODAY | Published: 2:00 AM Jan 21 2021

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