Kanchana Wijesekera, Sri Lanka’s Minister of Power and Energy, stated that 450 fuel stations have been divided into three groups of 150 to be made available to new foreign fuel service operators.
The new foreign fuel service operators will enter the Sri Lankan fuel market within a month, according to a meeting with fuel station owners and management.
On Thursday (4) morning, Sri Lanka’s Minister of Power and Energy, Kanchana Wijesekera, met with owners and management of fuel stations at the Foundation Institute in Colombo.
The minister announced via Twitter that he had met with the first two groups of owners and managers of fuel stations that will be made available to new suppliers.
Both parties talked about dealership allocation to new suppliers, categorising mechanisms, new agreements, pricing formulas, benefits of new suppliers, dealer margins, government policy and regulations.
Sri Lanka granted retail fuel licences to three foreign firms: Sinopec of China, United Petroleum Australia, and RM Parks of the United States, which is working with Shell.
The cabinet approved allocating 150 dealer-operated fuel stations to each new supplier, as well as another 50 fuel stations to each selected company.
