Govt. planning to procure fuel from emergency oil reserves released by IEA: Minister

• Even though emergency oil reserves were released, an issue has arisen in getting logistics

By Ajith Siriwardana and Yohan Perera

In the wake of the International Energy Agency releasing over 400 million barrels of emergency oil reserves, Energy Minister Kumara Jayakody said yesterday the government is taking steps to procure fuel from the emergency oil reserves.

The Minister told Parliament that even though the emergency oil reserves were released, an issue has arisen in getting logistics.

Responding to a question raised by Opposition Leader Sajith Premadasa, the Minister said a practical issue has arisen in finding a ship due to increase in insurance premium due to the Middle East tensions.  

He said it is difficult to find a ship in current circumstances whereas there are fuel reserves and the government is in possession of sufficient dollars to procure fuel.