CPC Chief refutes claims of fuel supply threat

Friday, 13 December 2024 04:56 - - {{hitsCtrl.values.hits}}

Confirms sufficient stocks for next two weeks
Says departure of ship due to United Petroleum’s internal issues, unrelated to CPC
Discloses CPC faces Rs. 584 b debt burden, Govt. will decide on employee bonuses

CPC Chairman J. D. Rajakaruna

The Ceylon Petroleum Corporation (CPC) Chairman J. D. Rajakaruna yesterday dismissed concerns over fuel supply following the departure of a United Petroleum shipment without offloading.

Speaking at a media briefing organised by the Government Information Department, he clarified that the shipment of 30,000 tons of fuel comprising equal parts of petrol and diesel left due to internal issued within the company and was unrelated to the CPC operations.

“The CPC has sufficient fuel stocks for the next two weeks,” Rajakaruna assured, citing that discussions with the relevant parties have ensured CPC fuel will continue to supply United Petroleum fuel stations.

He reiterated that the shipment’s departure would have no impact on the country’s fuel reserves or supply chain.

Addressing claims of CPC profitability, Rajakaruna pointed out that the Corporation still carries a debt burden of Rs. 584 billion. He added that the Government will ultimately decide whether employees are eligible for bonuses, considering the financial constraints.