The Cabinet of Ministers has approved to establish a subsidiary of the Ceylon Petroleum Corporation to enable it to start its Liquefied Petroleum Gas (LP Gas) business utilizing refined products.
The Sapugaskanda refinery that owned by the Ceylon Petroleum Corporation produces 70 to 90 metric tons of LP gas per day, which is 5% of the country’s demand.
Also, a feasibility study is being carried out to set up a new refinery with a capacity of 10,000 barrels per day, and plans are being drawn up to expedite the implementation of these development projects.
Accordingly, the Ceylon Petroleum Corporation has now recognized the importance of entering the gas market as the third competitor.
by Daily News Sri Lanka
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