Russian State-Owned Companies Cleared to Bid for Sri Lanka Fuel Tenders

Colombo, June 22 (Daily Mirror) - In a bid to improve competitiveness in fuel purchasing from the global market, the Ceylon Petroleum Corporation (CPC) has registered two Russian state owned companies allowing them to participate in the tender process, an official said yesterday.

Rosneft is one such company which is now able to participate in the competitive bidding process for the supply of fuel to the Sri Lankan market in the future as long as U.S. sanctions on Russia remain lifted.

According to CPC Managing Director Dr. Mayura Nettikumara , the registration was done last week.

Earlier , the Sri Lankan authorities approved the purchase of American oil- West Texas Intermediate (WTI) crude. A shipment of American oil arrived in the country recently. CPC Chairman D.J.Rajakaruna, meanwhile, said that the purchase of American oil was not always competitive due to the high freight cost and time- consuming shipment.

"It takes at least one month for a shipment, " he said.

Asked about the fuel subsidy, he said that Rs.57 billion had been allocated, and no decision had been taken on further allocation once the current amount was exhausted.