Agreement with Lanka IOC reconsidered

Monday, 06 May 2013 - 13:16

Agreement+with+Lanka+IOC+reconsidered++++++

 

The Indian Express news paper states that the government of Sri Lanka has decided to reconsider the existing agreement between the Ceylon Petroleum Corporation & the Lanka-Indian Oil Company.

 

According to the report carried by the express this decision comes on the heels of India backing the UN sponsored resolution adopted in Geneva recently.

 

Currently Lanka IOC commands 1/3rds of the CPC’s shares.

 

Accordingly it is Lanka IOC which is in charge of the administration of the Trincomalee Oil Tank facility.

 

Moreover it is reported that the Secretary to the Ministry of Finance has submitted several proposals in this regard subsequent to which the relevant amendments would be made known to Lanka IOC.

 

Informed sources suggest that the assistance of a Sri Lankan firm would be sought while inking this agreement followed by which the CPC & Lanka IOC would function as a joint venture.

 

Attempts to contact the Minister of Petroleum & the Director General of the CPC by our news team in this regard however proved futile since their phones were non responsive.



Showery condition to enhance today
Wednesday, 15 July 2020 - 7:21

The showery condition is expected to enhance to some extent over the south-western part of the island today (15), says the Department of Meteorology.Showers... Read More

Tuesday, 14 July 2020 - 23:29

22 million cash bonanza, to celebrate the 22nd anniversary of Hiru – the highest cash bonanza through a TV channel -"22 years for Hiru, 22 Millionaires... Read More

Complete the election even by changing the gazette notification - Dayasiri  (Video)
Tuesday, 14 July 2020 - 23:35

Former parliamentarian Sisira Jayakody addressing a public meeting today stated that the candidates have been severely inconvenienced due to the election... Read More