Govt enters long-term contract to purchase 7 million barrels of crude oil
April 25, 2018 04:39 pm
The Government of Sri Lanka has decided to purchase crude oil under long term contracts for keeping continuous process of refining at Sapugaskanda Oil Refinery of the Ceylon Petroleum Corporation (CPC).
The Proposal of Minister Arjuna Ranatunga, to award the contract of purchasing 7,000,000 Murban Crude Oil, for the period of 8 months from 1st April 2018 towards M.S. Swiss Singapore Overseas Enterprises Pte. Ltd was approved by the Cabinet of Ministers upon the recommendation of Cabinet Appointed Standing Procurement Committee.
The cost of a barrel of Crude oil is US$ 1.69.
