Power and Energy Minister Kanchana Wijesekera said that the first batch of fuel brought to Sri Lanka by China’s Sinopec Company has begun releasing the stock to the filling stations yesterday (1) and the second consignment will arrive today (2).
In a twitter message, the Minister says that the supply of fuel has faced obstacles due to the problematic situations arising in obtaining foreign exchange facilities from local financial institutions, and the entry of new retail suppliers into the local market will ease the foreign exchange requirements for petroleum products.
The minister added that after signing the agreements with the fuel station dealers, Sinopec will start retail petroleum operations with 150 filling stations across the country. Meanwhile, it is said that plans are being made to take over the filling stations that violate the guidelines of the Petroleum Corporation and hand them over to foreign companies.