Cabinet approval has been granted to award licenses to Sinopec, United Petroleum, Australia and RM Parks of USA in collaboration with Shell Plc to enter the fuel retail market in Sri Lanka.
Energy Committee and relevant other procurement committees had given their approval and recommendation to award the three companies the licenses to operate, Power and Energy Minister Kanchana Wijesekera said in a Twitter message.
The three companies will be allocated 150 Dealer operated fuel stations each which are currently operated by CPC. They will be granted a license to operate for 20 years ̶ import, store, distribute and sell petroleum products, in Sri Lanka.
A further 50 fuel stations at New locations will be established by each selected company.
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