Sri Lanka has reportedly purchased crude oil at the highest price in the global market, paying USD 286 per barrel, according to the website Middle East Eye.
This claim is based on a statement allegedly made by HSBC CEO Georges Elhedery.
However, the Ceylon Petroleum Corporation has stated that this report is false.
Before the Middle East conflict began, the global price of a barrel of crude oil ranged between USD 70 and USD 80.
After the war started on February 28, the price rose to USD 119 per barrel, but has since dropped back below USD 100.
Amid this situation, Middle East Eye reported that Sri Lanka paid an exceptionally high price—USD 286 per barrel—well above the global average.
According to the report, Georges Elhedery made this statement at an investment conference held in Hong Kong last Tuesday:
“What concerned me was not the headline prices. I mean oil prices are above 100, 110 dollars. In reality, if you are trying to source oil from the Middle East now, you may have to pay 140 to 150 dollars. From what I heard, the highest price paid for a barrel of oil was by Sri Lanka—286 dollars.”
In response, the Ceylon Petroleum Corporation issued a statement this afternoon.
The corporation said that the news claiming Sri Lanka purchased crude oil at USD 286 per barrel is completely false.
It further stated that even under current war conditions, Sri Lanka has been purchasing crude oil at prices ranging between USD 71 and USD 113 per barrel.
