Sri Lanka’s state-run Ceylon Petroleum Corporation (CPC) has reported a steep decline in profits for the first half of 2024, with net earnings plummeting by 70.2% to 20.7 billion rupees compared to 69.5 billion rupees in the same period last year. According to a Finance Ministry report, the decrease in profits is attributed to a
Sri Lanka’s outgoing Power and Energy Minister Kanchana Wijesekara has announced that he leaves the ministry in a stronger financial position, with sufficient stocks of petroleum products and coal for power generation and fuel supply. In a tweet on September 23, Wijesekara emphasized that all institutions under his purview are now operating with positive balance
Sri Lanka’s Cabinet has approved a contract for the purchase of three shipments of Murban crude oil from November 15, 2024, to April 14, 2025, to Vitol Asia (Singapore) Pte Ltd. The agreement, as stated by a government release, involves acquiring 2,100,000 barrels of Murban crude, with a margin of ±5%, on a payment basis
Sri Lanka’s retail fuel prices will remain unchanged for August 2024, according to the state-run Ceylon Petroleum Corporation (CPC). The CPC was expected to announce its monthly formula-based fuel prices effective from midnight on July 31. Previously, the CPC reduced petrol prices by 11 rupees to 344 rupees per litre and 95 Octane petrol by
Bus fares in Sri Lanka will be reduced by 5.07 percent from midnight on July 1, as announced by the National Transport Commission. The minimum fare will decrease by 2 rupees, from 30 to 28. “We considered 12 factors for the revision, including costs of tyres, tubes, battery and spare parts, interest rates, and bus