Sinopec, a leading international petroleum company based in China, has started its business operations in Sri Lanka from today.
Accordingly, the fuel supply has started from a Ceypetco fuel station located in Matthegoda, Colombo.
Sinopec Fuel Oil Lanka, the local subsidiary of the Chinese petroleum giant, began operations on Wednesday (August 30) with a market promotion.
Accordingly, petrol and diesel are pumped at Rs. 3.00 profit to the customers.
Last year, the Sri Lankan government decided to open up Sri Lanka’s fuel import and retail sales market to companies from oil-producing countries to resolve the foreign exchange crisis.
The Petroleum Products (Special Provisions) Bill has also received the approval of the Ministerial Advisory Committee on Power and Energy.
It will enable new suppliers to enter the domestic fuel market as importers, distributors and retail operators for petroleum products.