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
A delegation from the Asian Development Bank (ADB), led by Country Director Takafumi Kadono, met with President Anura Kumara Dissanayake yesterday to reaffirm their commitment to supporting Sri Lanka’s economic and social development. During the discussions, the ADB emphasized its ongoing dedication to various projects in Sri Lanka, focusing particularly on bolstering sectors critical to
The Electricity Consumers’ Association (ECA) has alleged that the Ceylon Electricity Board (CEB) is imposing an additional financial burden of approximately Rs. 50 billion on electricity consumers by purchasing fuel for electricity generation at retail prices. In a statement to The Daily Morning, ECA General Secretary Sanjeewa Dhammika explained that, prior to 2022, fuel was
Litro Gas Lanka Ltd. and Litro Gas Terminal Lanka Ltd. have announced the appointment of Channa Gunawardana as their new Chairman, a move that underscores the companies’ dedication to providing a consistent energy supply throughout Sri Lanka. Gunawardana brings extensive experience to his new role, having previously served as CEO/Director of Aitken Spence Garments Ltd.
United Petroleum, an Australian energy giant, has signaled its intent to expand its operations in Sri Lanka by meeting with President Ranil Wickremesinghe. The senior leadership team, including Co-Founder Avi Silver, Group CFO Nigel Simonsz, Group Procurement Head Brett Crawford, and United Petroleum Lanka Director/CEO Dr. Prabath Samarasinghe, discussed the company’s future plans in the
The Public Utilities Commission of Sri Lanka (PUCSL) has decided to keep the payments for rooftop solar power plants unchanged, despite recent revisions to rates for renewable energy projects. According to a circular from Ceylon Electricity Board (CEB) General Manager Dr. Narendra Silva, the rate of Rs. 37 per unit for solar electricity, set in