Russia to supply oil to Lanka

2 March 2010 02:44 pm - 34     - {{hitsCtrl.values.hits}}

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By Indika Sri Aravinda

The Russian government has agreed to sell oil to Sri Lanka at a fixed price through Gazprom a major oil company in Russia, sources at the Russian embassy told Daily Mirror online.

At the moment Sri Lanka is buying oil through Singapore.  The deal between Russian and Sri Lankan is likely to be finalized during the course of the year embassy sources confirmed.

Gazprom also held discussions with visiting Sri Lanka president Mahinda Rajapaksa last month on exploring for oil off the coast of the Indian Ocean island.

Cairn India, a private oil firm, has already bought one oil exploration block off Mannar in Sri Lanka's north western coast through an open auction.

In December, it began three-dimensional seismic surveys to pinpoint sites for test drills later on in the Gulf of Mannar waters off Sri Lanka's north-west.  (Daily Mirror online)
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  Comments - 34

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  • Thursday, 04 March 2010 09:25 AM

    Yeah, Sri Lanka is already having a bitter experience.

    Thursday, 04 March 2010 10:30 AM

    Gas from Myanmar?

    Wednesday, 03 March 2010 02:45 AM

    Some people who comment on this forum are fixed pessimsitic.

    Wednesday, 03 March 2010 03:06 AM

    What are good freinds for. From Russia with Love.

    Wednesday, 03 March 2010 03:22 AM

    What happened to the Sri Lankan oil.

    Wednesday, 03 March 2010 03:23 AM

    I suspect wheather this oil can run our cars, or cars have to run after oil?

    Tuesday, 02 March 2010 02:48 PM

    SL can re-sell oil to Singapore now. Good move Mr. President.

    Wednesday, 03 March 2010 03:58 AM

    Dont blame MR for even good things he do... Since Iraninan oil is not feasiable he might be buying from Russia..

    As the Finance Minister of the counrty let MR do good things without critizing for every thing

    Wednesday, 03 March 2010 03:58 AM

    then we will have to buy their machinery plus expertise as well, which may cause another million doller capital. think about it.

    dharma

    Wednesday, 03 March 2010 04:02 AM

    another Hedging ??

    Tuesday, 02 March 2010 03:25 PM

    Fixed price ? is this any different from a forward contract and how?.

    Tuesday, 02 March 2010 03:45 PM

    What would it matter? Fixed price or not the citizen will have to bear higher fuel bills.

    Wednesday, 03 March 2010 04:10 AM

    What happened to the deal with Iran. Now it is Russia and very soon it will be from Venunsela.

    Wednesday, 03 March 2010 04:23 AM

    From Russia with Love

    Tuesday, 02 March 2010 05:09 PM

    This is a very significant move - Russia being the second largest oil producer in the world, at present (second only to Saudi Arabia). The President is well on track to break free from the 'grips' of the Arab oil cartel. Well done SIR!

    Wednesday, 03 March 2010 04:34 AM

    British and Americans must be watching in awe!..cause most oil companies in middle east have a 50% British or American interest.
    So much so for the British support for certain groups who talk of transitional governments!

    Wednesday, 03 March 2010 04:38 AM

    That is then, this is now. Then the price of a barrel of oil is few dollars now it is around $ 80. The oil deposits that were uneconomical then are now being economical.

    Wednesday, 03 March 2010 04:43 AM

    Is it for a Double Doctorate?????????????
    Russians are trying to make a fool out of Sri Lanka.
    Is this a 10% deal by Wimala???????

    Tuesday, 02 March 2010 06:04 PM

    What happened to the most talked-about 'Iranian oil'?

    Wednesday, 03 March 2010 04:53 AM

    This is what we call efficient way of dealing with the west! Weldone!

    Tuesday, 02 March 2010 06:21 PM

    'Fixed price' - How much higher than the current market price? How long will it be 'fixed' for? What does the 'small-print' say? Is it better than what we have now, or worse? (I will not ask the 'next' question!)

    Tuesday, 02 March 2010 08:22 PM

    Our judicious President, Mahinda Rajapakse, is emulating the wisdom of President Putin, who revitalized the Russian economy, during his term of office.

    Wednesday, 03 March 2010 05:23 AM

    D-Cray, you were in Anuradhapura then...are you in Angoda now????...don't be so negative !!!!!

    Tuesday, 02 March 2010 08:39 PM

    What about the 'fixed commission'?

    Wednesday, 03 March 2010 11:11 PM

    What do we sell in return - 'bata' slippers?

    Wednesday, 03 March 2010 05:45 AM

    Mr. Fouzy will supply oil to Russia within some couple of years.

    Wednesday, 03 March 2010 05:49 AM

    A whiff of petrol - no wonder the Americans are going gaga about Sri Lanka.

    Wednesday, 03 March 2010 05:55 AM

    another Hedging Deal

    Politicos make money while country go to dogs

    Suba Anagatayak
    ohama yang ohama yang

    Tuesday, 02 March 2010 10:07 PM

    Well done MR!

    Wednesday, 03 March 2010 06:01 AM

    D Cray,
    USSR 40 years ago and modern Russia are two different animal. Are you still using the bullock cart (and the Amude) that you used in Anuradapura 40 yrs ago.

    Wednesday, 03 March 2010 06:07 AM

    should we keep our past forever,?

    Tuesday, 02 March 2010 11:04 PM

    I remember, 40 years ago, Russians were here to prospect oil in Mannar - nothing was found! Instead, the Russians who came to work here, sold their binoculars, radios & camping gear, to make some 'pocket-money' - I was in Anuradhapura, then.

    Tuesday, 02 March 2010 11:07 PM

    More work for our mehanics - regualar engine 'tune-ups' will be required.

    Tuesday, 02 March 2010 11:23 PM

    Another great diplomatic maneuver, by MR and the clan!


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