Press briefing of Cabinet Decision taken on 2022-06-27

Obtaining fuel from the companies established in the petroleum producing countries based on long-term Agreements

- The Ceylon Petroleum Corporation contributes about 90% of the total fuel supply of the country and the Indian Oil Company supplies the rest of 10%. Due to the prevailing foreign exchange crisis in the country, ensuring an uninterrupted fuel supply in the country has become a major challenge. In this context, it has been observed that it would be appropriate to provide opportunities to the fuel companies established in the fuel producing countries to import and sell fuel with long term agreements with such companies, using the funds of those companies without any pressure to the foreign exchange issue in the country. Accordingly, the proposal made by the Minister of Power and Energy to provide the opportunity to the fuel companies selected using the formal procedure to import, distribute and sell fuel to Sri lanka with long-term Agreements, was approved by the Cabinet.