Sri Lankan government has renewed the Petroleum Products License granted to Lanka IOC – the local subsidiary of Indian Oil Corporation.

Accordingly, the Sri Lankan wing of the Indian multinational oil and gas company is allowed to continue its retail operations on the island nation for another 20 years, with effect from January 22, 2024.

This was communicated by Lanka IOC PLC’s Managing Director, Dipak Das in a letter addressed to the Chief Regulatory Officer of the Colombo Stock Exchange (CSE). The announcement was made pursuant to Section 8 of the Listing Rules of CSE.