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Iran to provide oil at US$ 110 per barrel to Sri Lanka
Friday, 16 May 2008 - 5:28 AM SL Time
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Iran will provide oil at a concessionary rate of US$ 110 per barrel to Sri Lanka until July under the agreement signed by President Mahinda Rajapaksa with the Iranian Government.
Speaking at the Weekly Cabinet Briefing, Media Minister Lakshman Yapa Abeywardana said though oil prices are increasing in the world market, with this relief measure, the country has been able to save nearly U$$ 1,500 million under this agreement.
A committee appointed by the President is studying world oil price fluctuations to find out ways of providing relief for consumers. `We do not want to place burdens on ordinary masses and have not taken any decision to increase fuel prices,` he said.
Once the expansion of the Sapugaskanda oil refinery is completed with Iranian assistance, we can save a huge amount of money spent on oil imports,` he said.
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kiora
Joined: May 2006
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 15 May 2008 23:10:30 GMT Report for Abuse
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| US$20 to 30 saving on a barrel of oil in just over two months till July Sri Lanka can save US$1500 million. Sri Lanka must be one of the biggest uses of crude oil in the world. Wonder who is doing the numbers Cabarala from the Reserve Bank. Time to buy new calculators. |
Damed
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 15 May 2008 23:19:47 GMT Report for Abuse
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Agreement for three months../ at a fixed price.
less impact to Lankan Economy.
Expansion of the Refinery will bring better impact,but not that US$ millions said. |
freedom1
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 16 May 2008 00:09:10 GMT Report for Abuse
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These figures are nonsense.
How can $40 saving per barrel accumulate this amount?
http://www.lankanewspapers.com/news/2005/9/3369.html |
saliya
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 16 May 2008 02:30:19 GMT Report for Abuse
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| It is a big relief under the increasing oil price to Sri Lanka. However, we must accelerate mining work in SL so that we can see whether we can these gold in SL soil. |
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