Sri Lanka enters into six-month agreement to buy oil from PetroChina

Sri Lanka has entered into a term contract for the supply of petroleum products from PetroChina International (Singapore) Ltd. for six months.

The deal, made on a proposal by Minister of Petroleum Industries Susil Premajayantha, has received Cabinet approval subject to stipulated conditions, as recommended by the Special Standing Cabinet Appointed Procurement Committee (SSCAPC).

According to the Government Information Department the term tender would be for combined cargo and would run for six months from 1 December 2012 to 31 May 2013.

Sri Lanka is being forced to import refined oil from several sources since Sri Lanka’s sole refinery can only purify Iranian crude and the crude supplies from Iran had to be reduced following the sanctions imposed on Iran by the United States.