Today, August 2, Sinopec, the largest international petroleum firm in China, is expected to deliver its second cargo of fuel to Sri Lanka.
According to Minister of Power & Energy Kanchana Wijesekera, the first gasoline cargo is currently being discharged. The first batch contains a total of 45,000 metric tonnes of petroleum, according to the Chinese Embassy in Colombo.
Wijesekera stated in a tweet on Tuesday (Aug. 01) that the entry of new retail suppliers into the domestic market will reduce the amount of foreign currency needed to purchase petroleum products because the suppliers will import goods with a 12-month financing facility from their principal investors and without the need for foreign currency from local financial institutions.
