The Sri Lankan cabinet has agreed to offer 03 longer term contracts to Indian and Singapore firms to procure refined petroleum products to fulfill the country's demands.
These contracts cover an 8-month period starting December 2016 as the current contracts for purchase of refined petroleum products have already expired.
While India's Reliance Industries has won one contract, Singapore-based Petrochina International has been offered 02 contracts.
These contracts will see Gas oil (0.001% 0.05 Max Sulpher) and Gasoline (92 95 Unl) supplied from December 2016 to end July 2017.
In a note to the cabinet, Petroleum Development Minister Chandima Weerakkody saidthat these contracts were the lowest assessed substantially responsive bids.
These contracts cover an 8-month period starting December 2016 as the current contracts for purchase of refined petroleum products have already expired.
While India's Reliance Industries has won one contract, Singapore-based Petrochina International has been offered 02 contracts.
These contracts will see Gas oil (0.001% 0.05 Max Sulpher) and Gasoline (92 95 Unl) supplied from December 2016 to end July 2017.
In a note to the cabinet, Petroleum Development Minister Chandima Weerakkody saidthat these contracts were the lowest assessed substantially responsive bids.