Press briefing of Cabinet Decision taken on 2018-08-14

Entering into term contracts to purchase Refined Petroleum Products

- With a view to maintaining the petroleum stocks at an optimal level, it was decided to enter into 02 term contracts for purchasing refined petroleum products within a period of ten (10) months from the 01st of September 2018 up to the 30th of June 2019. Accordingly, the proposal made by Hon. Arjuna Ranatunga, the Minister of Petroleum Resources Development, to award the procurement contracts for purchasing the petroleum products to M/s Gulf Petrochem FZC of the United Arab Emirates, as recommended by the Special Standing Cabinet Appointed Procurement Committee (SSCAPC), was approved by the Cabinet.