Sri Lanka to pay Rs130bn to banks for CPC debt in Rs219bn supplementary estimate

Sri Lanka will present a 219 billion rupee supplementary parliament to allocate funds for several expenditure items including a 130 billion rupee interest subsidy to banks for debts taken over by tax payers. The supplementary estimate will be within the approved expenditure and debt limits for the year 2024, the statement said. Read more on […]

Sri Lanka CPC Iran debt down to US$191mn, profits fall 70-pct to June 2024

Sri Lanka’s state-run Ceylon Petroleum Corporation has made a profit of 20.7 billion rupees in the first half of 2024, as revenues fell due to other players, a Finance Ministry report said. The total import cost of oil by the Ceylon Petroleum Corporation had fallen to 1,235 million US dollars up to June 2024 from […]

Sri Lanka’s CPC to implement daily automated price revising system from next year

Sri Lanka’s Ceylon Petroleum Corporation (CPC) is planning to implement a daily automated price revising system from next year, Minister of Power and Energy Kanchana Wijesekera said. Sri Lanka revises the price of fuel on the first of every month. State run CPC raised the price of 92 octane petrol by 20 rupees to 348 […]

Sri Lanka’s CPC to purchase four shipments of 92 octane petrol from Vitol Asia

Sri Lanka’s Cabinet approved a proposal for Ceylon Petroleum Corporation (CPC) to purchase 92 octane unleaded petrol from Vitol Asia for the next four months. Four shipments of petrol will be supplied between 21 September this year, and 21 January 2024. The Singapore unit of energy and commodities trader Vitol has supplied Sri Lanka’s government-run […]

Sri Lanka’s CPC to lease emergency response vessel

Wednesday May 17, 2023 3:08 pm Sri Lanka’s state-run Ceylon Petroleum Corporation will lease a maintenance emergency response vessel, cabinet spokesman Minister Bandula Gunawardana said. The cabinet of ministers had approved the leasing of the vessel from Sri Lanka Shipping Company Limited. Read more on Economy Next