The Sri Lankan Cabinet has greenlit the proposal for national oil and gas company Ceylon Petroleum Corporation to restart its participation in the local bunker business, reports government owned newspaper Daily News.
CPC exited the business in 2004 when bunkering was outsourced to CPC affiliated company Lanka Maritime Services Limited.
Allegedly, the proposal was presented by the Sri Lankan Energy Minister and highlighted CPC’s capacity to import bunker fuel at a quantity that would allow for favourable prices.
It is hoped that CPC would then be able to supply marine fuel to local bunker suppliers at competitive prices and this would increase the number of vessels sailing through Sri Lanka.
Related: Sri Lanka: Sinopec commences oil depot, bunkering operations at Hambantota port
Related: Sri Lanka: Hambantota International Port inaugurates bunkering services
Photo credit: Ceylon Petroleum Corporation
Published: 5 February, 2021
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