Agreement with SINOPEC on retail fuel sales to be signed mid-May.

Minister of Energy and Power Kanchana Wijesekera has acknowledged that the Sinopec officers and technical consultants have visited Sri Lanka to finalise the Settlement of retail gasoline gross sales. Officers met with the Ministry yesterday (25 April) and had mentioned the timeline and situations of the Settlement. Many stakeholders has attended this dialogue together with officers from Board of Funding (BOI), Ceylon Petroleum Company (CPC), Ceylon Petroleum Storage Terminals Restricted (CPSTL) and Central Financial institution of Sri Lank.

Minister additional acknowledged that events determined to signal the settlement by mid-Might. With the finalisation of the settlement operations on retail of gasoline by Sinopec is predicted to begin inside 45 days.