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Shell out, Litro in

3 November 2010 06:22 am - 86     - {{hitsCtrl.values.hits}}

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The government a short while ago signed the agreement to buy 51% shares of the Shell Gas Lanka and Shell Terminals, government sources said. The shares were bought at USD 63 million.

Shell name will be changed to Litro and Chief of Staff of President Mahinda Rajapaksa, Gamini Senarath will be appointed as the Chairman of Litro, said the sources.


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  Comments - 86

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  • Reader Wednesday, 03 November 2010 09:29 AM

    Dear
    Lamaya/PWC/Mohana

    Be thankful atleast dailymirror is letting people speakup in a public forum like this...We srilankans know to complaint.have you ever appreciated anyone. We should really thank them for letting us comment,from which we know people opinion..

    Lam Wednesday, 03 November 2010 10:15 AM

    champika says he is going to increase tariff by 15% . no brain need for increasing profit by increasing the tariff.

    Nandimithra. Wednesday, 03 November 2010 10:14 AM

    Yes the change you say is in all foreigners exiting the share market and govt buying up thro EPF/ETF etc. Last two months every day foreign sales exceed foreign purchases by three to one average.

    Nandimithra. Wednesday, 03 November 2010 10:12 AM

    How about coming colour and change to Namaltro.

    srinath gunaratne Wednesday, 03 November 2010 10:08 AM

    While all over the world governments cut costs, MR is on shopping free. What the XXXX is govt going todo buying shell gas? Sell gas? Havent they got better things to do?

    The underlying problem is, There is no good foreign investment in the country. Banks are full of money Nobody is borrowing. The develpment stratergy is in shambles. Wait till America impose a sanction oh Sri Lanka.

    History has show west has won the cold war and the way forward is west. Not north ( Korea )

    observer Wednesday, 03 November 2010 10:01 AM

    Its better if mirror can practice more freedom of speech. but certainly not the "wild donkey freedom."

    manusha Wednesday, 03 November 2010 09:45 AM

    admit most other sites are either completely anti-govt or pro-govt or pro-LTTE or UNP. some others are eternally twisting news for no reason. that way mirror is quite credible. it is neither pro-govt nor pro-unp nor ltte. they break news as they come.

    Kanthi Wednesday, 03 November 2010 09:44 AM

    Mirror is the best if not some MOLe katchal agenda. Sometimes, some comments published disappear and they restart all over again. !!?

    Dailymiller Wednesday, 03 November 2010 09:30 AM

    Well said prabodha

    Jay Wednesday, 03 November 2010 10:17 AM

    This is why Shell gas price was not reduced...

    prabodha Wednesday, 03 November 2010 09:26 AM

    remember there was a time mirror was almost blacked out. perhaps they are being cautious. its better to have mirror with some editing of comments than no mirror at all. One of the few sites if not the only one without agendas

    Dailymiller Wednesday, 03 November 2010 09:23 AM

    Dear Lamaya we are not the ones who decide freedom of speech in the country. Go tell this in courts , tell this to the president ..Penalty is You can get prisoned for it..Freedom of speech was taken away long time back...I thought the forum was aware.

    prabodha Wednesday, 03 November 2010 09:05 AM

    Eththatama who is king's keep? Mama danne nehane

    Zava Wednesday, 03 November 2010 09:04 AM

    another mihin air

    PWC Wednesday, 03 November 2010 08:57 AM

    Exactly. MR never sell any government institute and contrast to other overnment buy from pvt sector. People don't see any thing good in this government. All politically blined.

    wasala Wednesday, 03 November 2010 08:55 AM

    Chee chee Modawansa....king's keep? Everybody know's I thought.

    Concerned Citizen Thursday, 04 November 2010 04:07 AM

    May be initially...but later you will see the price sky rocketing! So prepare yourself to be 'shell shocked'!

    Royce Thursday, 04 November 2010 12:44 AM

    Enter the Mihingas Exit the Shllgas

    kanishka Wednesday, 03 November 2010 02:59 PM

    If the government tries to run the unit it will have to pay Rs 18000/- to the lowest ranker, hence the cost of production will go up and it will run at a loss. To keep the losses at a minimum it has to reduce the production. Ultimate result will be a scarcity of this brand in the market.

    Ranjith Wednesday, 03 November 2010 02:23 PM

    If anybody wants to know about Shell Gas, Google, "Crimes of Shell Gas". You will see the havoc they play in Nigeria to Pakistan!

    mike Wednesday, 03 November 2010 02:12 PM

    Mr.Kumar Soyza,you are correct.I myself had been a agent for mundo expo,doing a thriving business on gas selling,.During the tenure of CBK transferred all assets of Gas business to Shell,with a monopoly for 10years that no one could penetrate into the domestic gas market.In fact Laughs had a tough time to bring the business amidst shell's legal battles.Even Mundo had so many cases with Shell.that deprived our own establishments.CBK boasted about fortune500 companies when shell took over a running business that was given with all assets and with the market share to monopolize for a given time frame.

    Yehiya-Doha Wednesday, 03 November 2010 02:10 PM

    This is very poor decision like emirates. There are lot of job opportunities world wide lost.

    Sunil from Sri Lanka Wednesday, 03 November 2010 01:12 PM

    Laugf Gas will get management eventualy

    Jiri Biris Wednesday, 03 November 2010 11:01 AM

    wow..you guys have got good thinking

    manusha Wednesday, 03 November 2010 10:35 AM

    even i get many things wrong lam. did it in good faith. hope you are not offended for calling you lama. no time to read all news. yes we all should pool our resources in the forum

    Lam Wednesday, 03 November 2010 10:32 AM

    yes some of my comments are also not published if i criticize certain a minister

    Magodis Baappa Wednesday, 03 November 2010 10:30 AM

    I presume the actual change happened like this: After Shell decided to exit, the govt scrambled to find a "nice" name for the company. As people screamed about MihinAir's name, the govt thought the most appropriate name was "LITRE" as in Litre of Water! and Litre became LITRO. Anyway, will this become another White Elephant?

    manusha Wednesday, 03 November 2010 10:23 AM

    aiyo Lam you are quite Lama. the news was that susil prem had decided to stop giving residual fuel to CEB at concessionary rate from jan 2011. ceb has been getting it for concessionary rates for donkeys years.

    If susil wants to sell the residual oil to outside parties and refuse to give it CEB the ceb will have problems. what champika has said is that if susil refuses to give oil at a concessionary rate then the treasury might order ceb to increase tarriff. decision will be taken by treasury not by minister.

    hope you got the point.

    Shell Shocked Wednesday, 03 November 2010 06:50 AM

    It does not matter how respected he is. He has to follow the orders from his boss and his family. Tell us names of any Government Servants who s``tood his ground and survived.

    jayant Wednesday, 03 November 2010 07:48 AM

    Will Shell Gas price be reduced?

    shanthapriya Wednesday, 03 November 2010 07:42 AM

    CAN THE AUTHORITES DECLARE THE NET VALUE OF ASSETS WHICH AMOUNTS TO USD 63 MILLION IN DETAIL?

    mike Wednesday, 03 November 2010 07:37 AM

    The trade mark Lihor does not match easy floor of prounciations and attraction.It's represented litmed horrible.
    we got mundo,expo,all had to close because of shell.Two of our ventures in gas marked went bankrupt due to the legal actions of shell.Lihor will have no challenge in the market as shell has done it's network properly.But changing the name will cost milions of reuppess for colour chages name boards etc etc.


    t

    kevin Wednesday, 03 November 2010 07:32 AM

    Shell has taken a right decision at right time.They know very well where this country is heading for.

    priyantha.eu Wednesday, 03 November 2010 07:28 AM

    WHY LITHRO? PLS CORRECT TO MIHINTRO

    Nalaka Weerakody Wednesday, 03 November 2010 07:17 AM

    When Ceylon was changes as Sri Lanka the entire world witnessed the difference in the properitiy of our country. Now shell has changed in to Lihor the nation will have opportunity to see the diffrence again......Suba anagataya wawa to our people

    willows Wednesday, 03 November 2010 07:13 AM

    Shell is very smart and made a very smart move in time

    malkanthi Wednesday, 03 November 2010 07:07 AM

    Exactly, we have got into another huge soup.

    Shafraz Wednesday, 03 November 2010 07:06 AM

    Your absolutely correct and I totally agree with u

    Suresh Wednesday, 03 November 2010 06:49 AM

    The last 'laugfs' is more apt!

    Suresh Wednesday, 03 November 2010 06:48 AM

    Now we will see 'Lithro' also running at huge losses, like CEB, Petroleum, CTB, while Laugfs Gas corners the market and eventually becomes the sole player with a monopoly.

    Best time for everyone to invest in Laugfs share issue that coming up!

    SR@LK Wednesday, 03 November 2010 06:43 AM

    keyboard warrior : do you have any idea who this person is? he is a well respected civil servant with proven abilities.

    Gayan Samarasekara Wednesday, 03 November 2010 06:41 AM

    Please make sure that the quality is maintained to the level of Shell Gas. None can play with human lives under the influence of ample corruption in government mediated organisations.

    sltk2004 Wednesday, 03 November 2010 06:40 AM

    This may be what exactly Shell wanted - a way to exit

    Lam Wednesday, 03 November 2010 06:37 AM

    where is munda gas

    upul Wednesday, 03 November 2010 06:36 AM

    Not bad ha!

    Make money while selling and buying and poor us paying!!

    jim jam Wednesday, 03 November 2010 06:33 AM

    Could it succeed??? Wonder who will have the last laugh!

    koneswaransaro Wednesday, 03 November 2010 06:31 AM

    Changing the name is not important to the people. They are expecting the reasonable price for the products.

    commonsense Wednesday, 03 November 2010 06:29 AM

    does this mean we will be paying more for fuel ?? agree with the name change but why change the chairman???

    Mohamed Wednesday, 03 November 2010 08:26 AM

    If Govt has agreed to buy 51% of the shares from Shell Gas, that means that in the next couple of days we can see a big reduction in Shell Gas

    Modawansa Wednesday, 03 November 2010 08:54 AM

    "Lithro" in French refers to the keep of the King.
    Who is the keep?
    and
    Who is the king?

    migara Wednesday, 03 November 2010 08:50 AM

    Mala , Lithro means slip? Then it will slip from bad to worse to WORST!

    Podi Wije Wednesday, 03 November 2010 08:50 AM

    This is the way MR and govt. Buy instead of selling!!! See the comments of people... they dont have to say anthing than talking bullshit!!!

    Long live MR!!!

    welsh Wednesday, 03 November 2010 08:41 AM

    'Lithro' in welsh means 'slip'...

    Lamaya Wednesday, 03 November 2010 08:36 AM

    Where has this country headed other than visibly seen success...stop being so negative all the time. Despite all the issue the government IS making a good change in the country!

    marcus Wednesday, 03 November 2010 08:35 AM

    This means we the people will not get plenty of cheap electricity from coal as then the people will resort to cooking by electricity and the gas companies will have to shut down

    Lamaya Wednesday, 03 November 2010 08:33 AM

    Who said Sri Lankan was running at a loss? Try booking a ticket with them.... they are always fully booked. I have travelled alot on various airlines but Sri Lankan service is SUPERB! Its the same as Emirates or Singapore airlines!

    nihal Wednesday, 03 November 2010 08:30 AM

    But you don't know what happened to all these Gvt organizations?. Headed by all Henchmen and destroying, for an eg: Petroleum storage Ltd, No any discipline, waste and corruption sky rocking and finding difficult to pay the salaries.

    wasala Wednesday, 03 November 2010 06:27 AM

    Oh Dear what a disaster. Chief of Staff of President to chair it....well can see another Mihin Lanka in the making.

    Hash Wednesday, 03 November 2010 08:16 AM

    Hope it wont end like Munda Gas

    kassa Wednesday, 03 November 2010 08:08 AM

    Ask Ravi?

    commonsense Wednesday, 03 November 2010 08:06 AM

    Guess now the finance minister doesnt have to be worried abt budget deficit, they will make that up with regulated prices in gas and fuel.. what a master stroke...........

    migara Wednesday, 03 November 2010 07:56 AM

    CEB is turning, after 12 year it has started making profits. so if there's a will and a man with brains on top even a once loss making venture can make profits. But then not all are like champika

    Ruwan Ferdinandez Wednesday, 03 November 2010 07:55 AM

    Yes Either the Laugfs gas guy or the CoS Senarath must have done a good job in convincing the Prez, in this venture. They kicked out Emirates from the Sri Lankan Airlines and now struggling, never learn do they? Once Senarath has got his family and friends sorted, he will get his nomination for the next election but perhaps they'll sell the company to the other laughing stock to monopolise the gas industry. Stupid.

    J Wednesday, 03 November 2010 07:53 AM

    Better to list in Colombo stock market, like SLT more than 49% give management to Private sector then that can be run better.


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