First two Sinopec fuel shipments to arrive in August


The first two shipments of fuel under the agreement with China’s Sinopec are due to arrive in Sri Lanka  next month, State Minister of Petroleum D.V. Chanaka revealed.

Accordingly, Chanaka stated that the two shipments are expected to arrive in the first week of August.

Meanwhile, he assured that a Maximum Retail Price (MRP) will be stipulated by the Government to all fuel companies under the price formula from August.

Sri Lanka signed a contract agreement with Sinopec in May this year, in response to the ongoing foreign exchange crisis.

Under the new deal the Chinese firm will be given a 20-year licence to operate 150 fuel stations and will also be able to invest in 50 new fuel stations.


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