The Cabinet of Ministers, at its meeting on Monday, agreed on awarding the contracts to supply diesel and petrol for eight months, starting January next year, to Singapore’s Vitol following competitive bids.

The Government said the move follows bids called from registered suppliers of Ceylon Petroleum Corporation (CPC).

It said bids called from the registered suppliers of CPC for the long-term contract to import 1,137,500+10/-5% barrels of Diesel (Maximum sulfur percentage 0.05) and 262,500+10/-5% barrels of Diesel (Maximum Sulfur percentage 0.001) for a period of eight months from 1 January 2022 to 31 August 2022. Accordingly, the proposal tabled by the Minister of Energy to award the relevant contract for the Vitol Asia (Singapore) Ltd., as recommended by the Special Standard Procurement Committee appointed by the Cabinet of Ministers, was approved by the Cabinet of Ministers.

Separately, bids are called from the registered suppliers of CPC for the long-term contract to import 1,341,000+10/-5% barrels of Petrol (92 Unl) and 459,000+10/-5% barrels of Petrol (95 Unl) for a period of eight months from 1 January 2022 to 31 August 2022. Accordingly, the proposal tabled by the Minister of Energy to award the relevant contract for the M/s Vitol Asia (Singapore) Ltd., as recommended by the Special Standard Procurement Committee appointed by the Cabinet of Ministers, was approved by the Cabinet of Ministers.

Govt. says CPC prices will not be increased, will absorb losses