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CPC re-enter bunkering

27 December 2010 03:30 pm - 3     - {{hitsCtrl.values.hits}}

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The Ceylon Petroleum Corporation (CPC) will soon re-enter the lucrative bunkering business after a lapse of eight years, following the Supreme Court’s order nullifying the privatization of bunkering, Petroleum Industries Minister Susil Premjayantha said today.

The supply of bunkering facilities which was a CPC monopoly and managed by its subsidiary, Lanka Marine Services (PVT) Ltd, was sold to John Keells in 2002.

Minister Premjayantha said as an interim measure the bunkering business was being operated by 10 private companies contracted by the CPC. These companies had sold 50,975 metric tons of Marine Gas Oil worth US$38.7 million and 178, 908 Metric Tons of Marine Fuel Oil worth US$178 million. (SAJ)
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  • adahan Tuesday, 28 December 2010 09:27 AM

    Is the minister heading towards another disaster.

    nihal Tuesday, 28 December 2010 02:36 AM

    Most profitable business had been sold for pea and presently Indian oil co. captured the market very firmly. CPC dreams to enter again with out proper infrastructure facilities and probably end up with huge lost

    sherlock holmes Tuesday, 28 December 2010 04:00 AM

    The Air & Sea Ports along with The tourism board should be well educated of health hazards to identify and manage such situation and control the widespread.


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