Sri Lanka discusses multi-product oil pipeline proposal from India

Saturday, 10 February 2024 00:59 –      – 22

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Power and Energy Minister Kanchana Wijesekera this week revealed that discussions were held with the Indian Oil Corporation (IOC) regarding a proposed multi-product oil pipeline connecting Nagapattnam, Trincomalee Tank Farm, and Colombo.

Taking to ‘X’ he noted that he engaged in talks with the Indian Oil Corporation officials on the side-lines of the India Energy Week in Goa.

He said to assess the feasibility and viability of the project, technical studies, demand market analysis, financial evaluations and business model assessments will be conducted.

“We also discussed the investments and expansion of projects under the joint venture in Trincomalee tank farm, Ceylon Petroleum Storage Terminal Ltd., (CPSTL) and Lanka IOC (LIOC) retail operations,” the Minister added.

Chairmen of IOC, LIOC, Ceylon Petroleum Corporation (CPC) and Petroleum Development Act Secretariat Ltd., (PDASL) participated in the meeting.