Sri Lanka to take back oil tanks from IOC after UN vote
22 March 2013 6:17 AM IST
Sri Lanka on Thursday announced plans that it would partially take over a strategic oil storage depot in Trincomalee from the Indian Oil Company’s local arm after India voted in favour of a US-sponsored resolution against Colombo at the UNHRC.
There had been unconfirmed reports in the local media that the government was eying the 99-tank storage facility in the north-eastern port district of Trincomalee, but Information Minister Keheliya Rambukwella on Thursday announced at the weekly cabinet press briefing the plans to take back unutilised tanks from Indian Oil Company’s local arm known as Lanka IOC.
Rambukwella said there were provisions to re-possess tanks that were not used by the Indian Oil Company’s local unit, Lanka IOC, which bought one third of the government’s retail oil business in 2003.
In line with the privatisation, Sri Lanka gave the World War II tank farm of 99 storage tanks in the north-eastern port of Trincomalee to Lanka OIC which is using 15 of them and refurbishing two more.
The minister said the new petroleum minister Anura Yapa after assuming duties in January was keen to expand the state-run Ceylon Petroleum Corporation (CPC) business and wanted to increase the CPC’s storage capacity.
There had been unconfirmed reports in the local media that the government was eying the 99-tank storage facility in the north-eastern port district of Trincomalee, but Information Minister Keheliya Rambukwella on Thursday announced at the weekly cabinet press briefing the plans to take back unutilised tanks from Indian Oil Company’s local arm known as Lanka IOC.
Rambukwella said there were provisions to re-possess tanks that were not used by the Indian Oil Company’s local unit, Lanka IOC, which bought one third of the government’s retail oil business in 2003.
In line with the privatisation, Sri Lanka gave the World War II tank farm of 99 storage tanks in the north-eastern port of Trincomalee to Lanka OIC which is using 15 of them and refurbishing two more.
The minister said the new petroleum minister Anura Yapa after assuming duties in January was keen to expand the state-run Ceylon Petroleum Corporation (CPC) business and wanted to increase the CPC’s storage capacity.
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