Press briefing of Cabinet Decision taken on 2022-01-31

Supply of Crude Oil for the Sapugaskanda Oil Refinery

- Required measures have already been taken to supply crude oil required for the Sapugaskanda Oil Refinery until the month of July 2022, and measures have to be taken for the supply Crude Oil required for the subsequent period. The Terra Navis Group of Cyprus has called an unsolicited proposal for the supply of crude oil for the Sapugaskanda Refinery. The said proposal submitted for the supply of crude oil on 180 days extended credit basis has been evaluated by the Special Standing Cabinet Appointed Procurement Committee and further, a recommendation has been made to obtain a shipment of 450,000Bbls initially. Accordingly, the proposal made by the Minister of Energy for the supply of crude oil as recommended by the said committee, was approved by the Cabinet.