Sri Lanka inks deal with Sinopec to distribute fuel

Monday May 22, 2023 3:39 pm

ECONOMYNEXT – Sri Lanka has signed a long-term contract with China’s Sinopec group to be a petroleum distributor in the island, the President’s media office said.

Sinopec Fuel Oil Lanka (Pvt) Ltd will be allowed to import, store, distribute and sell petroleum products in the island.

In the first year the company has to import fuel without depending on the domestic banking system, the statement said.

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