Power and Energy Minister Kanchana Wijesekera revealed yesterday that United Petroleum of Australia has finalised an agreement with the Power and Energy Ministry to venture into petroleum retail operations in Sri Lanka.

The announcement comes following last month’s signing of the agreement between the two parties.

“They plan to sign the agreement with the BOI and obtain the license to operate by mid this year,” he said via ‘X’.

Wijesekera said United Petroleum Group CFO Nigel Simonsz visited the Ministry to provide an update on the company’s plans and outlined the schedule for commencing retail operations.

United Petroleum is slated to operate through 150 fuel stations allocated to them across the country.

Australia’s United Petroleum is the third international company to enter into the market.

Similar Posts

Right to Life Human Rights Centre Stands Against Torture on International Women’s Day…
|

Right to Life Human Rights Centre Stands Against Torture on International Women’s Day…

Bydaily reporter

In commemoration of International Women’s Day, the Right to Life Human Rights Centre expresses solidarity with women globally, emphasizing the urgent need to address the grave issue of torture against women. Particularly highlighting psychological torture, the Centre underscores the lasting impact it leaves on women’s lives. Despite legislative alignment with the United Nations Convention against…

Hatch receives Princess Anne; announce expansion to UK
| |

Hatch receives Princess Anne; announce expansion to UK

Bydaily reporter

Hatch, recognised as a leading organisation in Sri Lanka’s innovation and entrepreneurship domain, welcomed Her Royal Highness Princess Anne, The Princess Royal to their co-working space during her official visit to Sri Lanka. The tour of Hatch offered her an immersive experience into the dynamic entrepreneurial spirit of Sri Lankan startups. In conjunction with the…

U.S. Peace Corps Volunteers Sworn in, Marking Historic Return to Sri Lanka and Strengthening U.S.-Sri Lankan Partnership
|

U.S. Peace Corps Volunteers Sworn in, Marking Historic Return to Sri Lanka and Strengthening U.S.-Sri Lankan Partnership

ByEditor

In a ceremony held in Colombo on March 6, Peace Corps Director Carol Spahn, U.S. Ambassador to Sri Lanka Julie Chung, First Lady Professor Maithree Wickremesinghe, and Minister of Education Dr. Susil Premajayantha officiated the swearing-in of 20 Peace Corps Volunteers from the United States. This marks the 25th group of Peace Corps Volunteers to…

Justice Does Not Require A Mandate But A New Government – Jehan Perera
|

Justice Does Not Require A Mandate But A New Government – Jehan Perera

Bydaily reporter

On April 21, the country passed the fifth year anniversary of the Easter Sunday bombing that took the lives of about 300 persons and injured and maimed many more. The bombers targeted Catholic and Christian churches that were filled with devotees at the time of the attacks. The bombers had emerged out of the blue…

Unpacking South Asia’s growing role in global debt
| |

Unpacking South Asia’s growing role in global debt

Bydaily reporter

Half of the countries in the region-Afghanistan, Maldives, Pakistan, and Sri Lanka-are either in debt distress or at high risk of it. In 2006, South Asia’s total external debt stock increased by a record 23 percent. In 2022, the ratio of government debt-to-GDP in the region averaged 86 percent, higher than that of any other…

Sri Lanka Benefits from Red Sea Tensions Despite Risks in Joining US Operations
| |

Sri Lanka Benefits from Red Sea Tensions Despite Risks in Joining US Operations

ByEditor

Colombo Port Experiences Surge in Traffic Amid Red Sea Crisis Sri Lanka’s Colombo port has witnessed a significant increase in container volumes in recent weeks as vessels seek alternative routes to avoid the tensions in the southern Red Sea. Yemen’s Iran-backed Houthi rebels’ attacks on ships in this vital shipping route prompted some shipping companies…