Cabinet awards long-term petrol, diesel and crude-oil contracts to Singapore-based suppliers, but beyond keeping the pumps running lies the question motorists care about most – […]
Category: Petroleum
Sri Lanka Grants Fuel and Crude Oil Contracts to Aditya Birla and Vitol Asia
FINANCIAL CHRONICLE – The Cabinet of Ministers of Sri Lanka has granted approval for the establishment of long-term contracts for petrol, Murban crude oil, and […]
Sri Lanka stabilizes fuel costs amidst international challenges, offsetting diesel deficits.
FINANCIAL CHRONICLE – The government of Sri Lanka has opted to maintain the current domestic fuel prices for the upcoming month, despite incurring substantial losses […]
Sri Lanka Sees Fuel Expenses Soar to $536 Million in May, Doubling Previous Costs
FINANCIAL CHRONICLE – In May, Sri Lanka experienced a dramatic rise in its monthly oil import expenses, which climbed by 112 percent to reach US$ […]
Sri Lanka Slashes Fuel Costs as Global Oil Prices Stabilize Following 2022 Crisis
FINANCIAL CHRONICLE – Sri Lanka has decreased fuel prices for the first time in four months, following five consecutive increases, as global oil prices have […]
Minister: Sri Lanka Cannot Lower Fuel Prices Amidst Long-Term Contracts
Sri Lanka is unable to lower fuel prices despite a decline in global oil costs, according to Deputy Finance Minister Anil Jayantha. During a press […]
CPC Chief Announces Conclusion of Sri Lanka’s Fuel Subsidy Program by June
Sri Lanka’s allocation of Rs. 57 billion for fuel subsidies is set to conclude by the end of June, prompting the recent hike in oil […]
Sri Lanka to Restrict Fuel Allocations Following $524 Million Import Surge in May
Sri Lanka is set to enhance the enforcement of its fuel QR quota system as the country’s expenditure on fuel imports surged to an alarming […]
Sri Lanka adjusts fuel prices, approaching 2022 crisis highs due to increased import costs.
FINANCIAL CHRONICLE – In response to escalating global oil prices and increased import volumes, Sri Lanka has implemented its fifth fuel price increase since the […]
Sri Lanka’s April Fuel Expenditure Soars to $886 Million
FINANCIAL CHRONICLE – In April, Sri Lanka’s oil import expenses skyrocketed by 149.9 percent, reaching US$ 886 million, largely attributed to increased fuel prices stemming […]
Sri Lanka’s CPC Allocates $521 Million for Oil Purchases in May, Reports Official
According to Deputy Finance Minister Anil Jayantha, the Ceylon Petroleum Corporation (CPC), Sri Lanka’s state-run fuel supplier, reported a significant increase in its oil import […]
Sri Lankans encouraged to enhance fuel conservation efforts.
Sri Lanka’s Deputy Finance Minister Anil Jayantha has called on citizens to reduce their fuel usage as the rising costs of oil imports continue to […]
Sri Lanka’s Central Bank Head Reports CPC Settled Two-Thirds of 2026 Oil Expenses Within Initial Four Months
FINANCIAL CHRONICLE – The oil import expenses incurred by Sri Lanka’s state-owned fuel company have surged significantly in the initial four months of the year, […]
Sri Lanka Marks Arrival of First Crude Oil Shipment Amid Rising Tensions in the Middle East
FINANCIAL CHRONICLE – Sri Lanka has successfully received its inaugural shipment of crude oil for its Iran-constructed refinery amidst rising tensions in the Middle East, […]
IMF Issues Alert on Worldwide Financial Strain as US Sanctions Persist
FINANCIAL CHRONICLE – The ongoing U.S. blockade affecting ships entering or exiting Iranian ports in the Persian Gulf and Gulf of Oman has prompted the […]
Sri Lanka’s Exporters Request Fuel Supply Prioritization from CPC
FINANCIAL CHRONICLE – Officials from the Ceylon Petroleum Corporation (CPC) recently engaged in discussions with Sri Lanka’s export community to address critical issues regarding fuel […]
Tourist Arrivals in Sri Lanka Plummet by 18.1% in March Due to Middle East Turbulence
FINANCIAL CHRONICLE – According to official statistics, Sri Lanka experienced an 18.1 percent decrease in tourist arrivals during the first 25 days of March 2026, […]