Hirunews Logo
Long-term+agreement+to+purchase+crude+oil
Wednesday, 25 April 2018 - 21:16
Long-term agreement to purchase crude oil
624

Views
Cabinet has ratified a proposal by Ministry of Petroleum Resources Development to purchase crude oil under long term contracts.

It will facilitate continuous process of refining at Sapugaskanda Refinery owned by the Ceylon Petroleum Corporation.

Accordingly, the contract will be awarded to purchase 7 million barrels of Murban Crude Oil for a period of 8 months from 1st of April 2018.

The contract has been awarded to Swiss Singapore Overseas Enterprises Pte. Ltd.

The Cabinet Appointed Standing Procurement Committee has approved it.

The cost of a barrel of crude oil is US$ 1.69.
Make a Comment
Make a Comment

DOWNLOAD HIRUNEWS APP ON ANDROID & APPLE