Sinopec Granted 20-Year License to Operate Fuel Stations in Sri Lanka
Sri Lanka’s Minister of Power and Energy, Kanchana Wijesekara, announced that a 20-year license has been granted to Sinopec, a state-owned Chinese company, to operate 150 fuel stations currently managed by the Ceylon Petroleum Corporation (CPC). Additionally, the agreement allows Sinopec to invest in 50 new fuel stations and contribute to Sri Lanka’s energy sector.
The contract was signed between Sinopec Fuel Oil Lanka (Pvt) Ltd and its parent company in China and Singapore, along with the Ministry of Power and Energy, at the Presidential Secretariat in Colombo. This move marks Sinopec’s entry into Sri Lanka’s domestic retail petroleum market.