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No fuel shortage due to U.S. oil sanctions on Iran

19 January 2012 05:51 am - 8     - {{hitsCtrl.values.hits}}

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Sri Lanka's government has assured that there will be no fuel shortage as a result of U.S. sanctions on Iran's fuel imports, a minister said on Wednesday.

Sri Lanka's Petroleum Minister Susil Premajayantha told media that the government has already begun discussions with Oman and Saudi Arabia as well as stockpiling fuel to ensure that there will be no shortage if the country falls under U.S. sanctions for importing oil from Iran.

Iran is Sri Lanka's largest oil supplier and the country's only oil refinery was built to handle Iran's high-sulphur and high-density crude oil, which means that sourcing from other destinations could be problematic.

Iran and Sri Lanka have had strong diplomatic ties since President Mahinda Rajapaksa took over, but U.S. sanctions could mean that the country will have to consider alternatives.

However, Premajayantha insists that this is not an issue and oil can be sourced from other locations. He also feels that the six month grace period before implementation of the new sanctions would provide enough leeway for the government to find a solution.

However there have been no clear alternatives proposed and Sri Lanka spends around four billion U.S dollars on oil imports annually. (Source: Xinhua)
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  Comments - 8

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  • Chat Thursday, 19 January 2012 06:18 AM

    So ....... Just because USA place sanctions against Iran ; why cannot us import crude oil from Iran? For a fact I do know China and Russia import crude oil from Iran. Will those two countries listen to USA ??
    In fact Iran's nuclear facilities are done by Russian technology and their help.

    willows Thursday, 19 January 2012 06:29 AM

    when u say NO, it is really YES, and when you say YES, it is really NO???

    Sunil Jay Thursday, 19 January 2012 06:29 AM

    Hon Minister Susil Prem jayanth

    Do you know that Diesel fuel issued by CEYPECTO
    is much less quality compared to international Standards?

    Will you please apponint a separate Quality Assurance Body to verify the quality.
    IWith my little experience abroad, I have found the quality of Diesel is ver poor.


    Over to the Minister of Petroleum to investigate.

    SunilJay

    Ranja Thursday, 19 January 2012 06:37 AM

    Our refineries have made to spec of Iraninan crude oil. We order about 80% Oil from Iran. It will be an issue if not catered properly. Any loss will be reflected in our fuel prices anyway. Eventually we the public will have to pay for all these things.

    Fayad Thursday, 19 January 2012 06:39 AM

    Why should the world bow-down to US sanctions ?

    Ravana Thursday, 19 January 2012 06:42 AM

    OK so start stocking up on fuel. Get the cans out folks.

    Lanke Banda Thursday, 19 January 2012 07:00 AM

    Suppose S.L. ignore US trade sanctions & purchase from Iran then US & its EU allies will also gang up against S.L.and probably call for trade sanctions with S.L. as well. Can S.L. Economically face such a situation? The solution to this probably would be as many countries as possible strong ( China,India,Indonesia & which ever) gang against US.

    Wara Thursday, 19 January 2012 07:40 AM

    Exactly. Sanction is only imports to UN. Not to import to SL. Why we worry so much.


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