Press briefing of Cabinet Decision taken on 2021-02-01

Recommencement of the Bunkering Business by the Ceylon Petroleum Corporation

- The monopoly of the supply of bunkering oil was upheld by the Ceylon Petroleum Corporation under the "Lanka Maritime Services Limited" affiliated to Ceylon Petroleum Corporation and that business was opened to the Private Sector in 2004. Accordingly, the bonding storage facility which is maintained at the Sri Lanka Ports Authority has been sold to the Private Sector by the Ceylon Petroleum Corporation and as such, the Ceylon Petroleum Corporation has ceased to function from such bunkering business. Therefore, few suppliers are dealing in the process of importing bunkering oil in small scale, store that oil stocks at the Jaya Container Terminal (bonding storage) and then they are re-exported to ships sailing across the territorial sea of Sri Lanka. The Ceylon Petroleum Corporation possesses the capacity of importing fuel oil in bulk at favourable prices and supplying the same to licensed suppliers at competitive prices. Therefore, with the possibility of supplying of bunkering oil at competitive prices, it will be possible to increase the number of naval vessels sailing across the territorial waters of Sri Lanka. Under such circumstances, the Cabinet decided to grant its concurrence for the programme presented by Minister of Energy with regard to the recommencement of the import of bunkering oil business by the Ceylon Petroleum Corporation.