Sri Lanka has decided to award a long-term contract to a UAE-based Coral Energy DMCC for the purchase of diesel and crude oil.
Thereby, the island nation will procure diesel for 8 months from March 01 to October 31 and crude oil for 7 months from June to December 31 from the said foreign company.
The approval of the Cabinet of Ministers has been granted for this proposal tabled by the Minister of Energy.
The government said bids had been called from registered suppliers for the awarding of the long-term contract to import diesel (maximum sulphur percentage of 0.05) and crude oil to Sri Lanka this year.
The special procurement standing committee appointed by the Cabinet of Ministers accordingly recommended that the relevant contract be awarded to Coral Energy DMCC in the UAE.
Earlier this month, the Cabinet of Ministers decided to award a long-term contract to another UAE-based company named OQ Trading Limited for the procurement of 1.8 million barrels of petrol (92 Unl) for a period of 8 months, from February 15 to October 14.
