Power and Energy Minister Kanchana Wijesekera said yesterday that Cabinet approval was granted to award licenses to Sinopec, United Petroleum, Australia and RM Parks of the USA in a collaboration with Shell Plc to enter the Fuel Retail Market in Sri Lanka.He mentioned the above in a tweet.
The Energy Committee and relevant other procurement committees had given their approval and recommendation to award the three companies the licenses to operate.
The three companies will be allocated 150 Dealer operated fuel stations each which are currently operated by the CPC.
They will be granted a license to operate for 20 years to import, store, distribute and sell petroleum products in Sri Lanka.
“A further 50 fuel stations at new locations will be established by each selected company,” he added.