Govt. awards two supply contracts to import murban type crude oil to Singapore’s Vitol

Cabinet of Ministers on Wednesday approved awarding two contracts to supply murban type of crude oil for five months starting 15 November 2024, 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 2,100,000 +/-5% barrels of murban type crude oil under the procedure of issuance from the 100% stored tanks (100% Ex. Storage Modality) for five months from 15 November 2024 to 14 April 2025. 

Only Vitol Asia Ltd., in Singapore has submitted the bid for that. 

The proposal to this effect tabled by the Power and Energy Minister Kanchana Wijesekera to award the relevant contract for the Vitol Asia (Singapore) 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 2,100,000 +/- 5% barrels of murban type of crude oil for five months from 15 November 2024 to 14 April 2025, under the basis of payment in 30-days through a Letter of Credit issued by the Bank of Ceylon. 

Total of five bids have been received for that purpose and the bid submitted by the Vitol Asia in Singapore has been recommended as the responsive bid by the Special Standing Procurement Committee appointed by the Cabinet of Ministers. 

Accordingly, the Cabinet of Ministers approved the proposal to award the contract for purchasing of three shipments of murban type of crude oil to Vitol Asia in Singapore.