Privatisation to compete in Sri Lanka’s fuel market…….

According to Minister of Power and Energy Kanchana Wijesekera, the Cabinet of Ministers has given the go-ahead to award licenses to Sinopec of China, United Petroleum of Australia, and RM Parks of the United States so they can compete in Sri Lanka’s retail fuel market alongside Shell plc. 

He claimed in a tweet that the Energy Committee and other pertinent procurement bodies had approved and recommended that the three companies be awarded operating licenses. 

The minister announced that 150 dealer-operated petrol stations, which are currently run by Ceylon Petroleum Corporation, will be divided among the three firms (CPC). Each chosen company will build 50 additional fuel stations in new places, he said.

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