US likely to allow import of crude oil from Iran

3 October 2012 12:41 am - 12     - {{hitsCtrl.values.hits}}

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Despite the US embargo, the US government has tentatively agreed to allow Sri Lanka continue importing crude oil from Iran because of Sri Lanka’s satisfactory performance in the wake of trade sanctions, a senior Ceylon Petroleum Corporation (CPC) official said yesterday.

told Daily Mirror he was joined by External Affairs Ministry officials at talks with a US State Department representative Miss Alison in Washington with the intention of easing the sanctions on Sri Lanka.

“The US government is glad that Sri Lanka reduced the import of Iranian crude oil from 14 shipments to 10 during the trade embargo. Therefore, the US is ready to allow Sri Lanka to import 10 shipments of Iranian Light for the use of Sapugaskanda Oil Refinery (SOR) as only Iranian crude oil is suitable for the purpose,” Mr. Siva said.

But he said there were other issues to be addressed before resuming the import of crude oil from Iran as a result of the trade embargo.
Mr. Silva said Sri Lanka was not in a position to import crude oil from Iran until the issues pertaining to freight insurance, bank transactions and LOC which have been restricted in respect of trade with Iran.

He said Sri Lanka was in the process of sorting out these problems with the State Department and a final decision was expected at the end of this month when Miss Alison visited Sri Lanka once again for further discussion on the matter.

The government has contacted the Sultanate of Oman and Saudi Arabia to purchase crude oil to fill the gap as Sri Lanka requires 14 shipments of 135,000 metric tons each of crude oil annually. The agreement with Oman is expected to be signed shortly

The SOR was designed by Iranian in such a way that it could refine only Iranian Light produced by that country. The SOR refines 6,000 metric tons of Iranian light a day and after the recent repair work, the refinery runs at 80 per cent capacity.

Mr. Silva said there was no fuel crisis right now and ample stocks were available.

He said CPC would not increase fuel prices though the IOC increased their petrol and diesel prices recently and added that the IOC fuel price increase would not have a big impact on the local market as CPC is the market leader with 95% market share. (Sandun A. Jayasekera)
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  Comments - 12

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  • ravi Wednesday, 03 October 2012 06:16 AM

    UA has all the rights to do anything.

    Hussain Wednesday, 03 October 2012 06:34 AM

    # nicky karunarathna - Can you do anything about it without your verbal diarrhea against the USA? At least get your facts right before writing, the foreign debt is just over $2 trillion and thats small change for the worlds largest economy. The rest of the debt is domestic borrowings. The USA & EU imposed sanctions on Iran for their Nuclear program, it has nothing to do with stone age. Under the first amendment all freedoms are granted in the USA. The UN charter has nothing to do with this issue. You have no idea about the US economy. Arm sales is not even 10% of exports of the USA. Get yourself an education before writing nonsense.

    kumaraya Wednesday, 03 October 2012 01:52 AM

    What has Minister Weerawansa to say?!

    nicky karunarathna Wednesday, 03 October 2012 03:12 AM

    What is this drama playing by US this so-called stone-age 21st century, where free speech, freedom of movement, freedom of trade under the democratic system of gevernments are allowed their peacful existences under aegis of UN charter? Who is US to make sanctions, and what others can do and don't governed by most filthiest nation on Earth, which is indebted to the whole world to a tune of $ 16trillion and running a economy, solely depending of earning from arms sales, pornography, God business to make rules? Is this world is totally mad?

    Nimal Wednesday, 03 October 2012 01:18 PM

    I think it is a great opportunity for GOSL, since 1 USD = 35,500 rials now. So Sri Lanka can fill up all those oil tanks in Sri Lanka with no time like china & India does these days.

    Em Wednesday, 03 October 2012 03:51 AM

    I think you are mad

    Al Rasa Wednesday, 03 October 2012 03:58 AM

    Good work will get rewards.

    Ben Wednesday, 03 October 2012 04:28 AM

    Who is this Mr. Silva?

    Athas Wednesday, 03 October 2012 04:56 AM

    You are exactly correct. The world need a new world order .

    Rathgamaya Wednesday, 03 October 2012 04:59 AM

    US makes the decision and not Sri Lanka.

    mohammed Friday, 05 October 2012 08:56 PM

    USA want country to suffer for their own interest Mr. Hussain better u undersand. Every secons women has been raped in USA. USA only talk about deomocractic values but kept arab dicatorts only for their interest nof others interest. their the big cheter and liers in the world.

    Minister Wednesday, 03 October 2012 05:53 AM

    Obams is a secret friend of Iran. So don't worry about fuel embargo, it is not a permanent one. Its just one of his gymics


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