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Ceylon Petroleum Corporation, commonly known as CEYPETCO (CPC), is a Sri Lankan oil and gas company. Established in 1962 and wholly owned by the Government of Sri Lanka, it is the largest oil company in Sri Lanka. It was formed in 1961 by nationalisation and expropriation of all private oil companies in Sri Lanka at the time of its formation. [4]
The Sri Lankan economic crisis [8] is a in Sri Lanka that started in 2019. [9] It is the country's worst economic crisis since its independence in 1948. [9] It has led to unprecedented levels of inflation, near-depletion of foreign exchange reserves, shortages of medical supplies, and an increase in prices of basic commodities. [10]
Chevron Lubricants Lanka PLC is a manufacturer, distributor and marketer of Petroleum-based lubricants in Sri Lanka. The company is one of the constituents of the S&P Sri Lanka 20 Index [ 2 ] and the Chevron Corporation holds a controlling stake (51.00%) of the company's stocks. [ 3 ]
The event became known as the 2022 Sri Lankan economic crisis Sri Lanka has faced energy crisis. With no foreign exchange to pay for fuel, Sri Lanka Government was dependent on an Indian line of credit of US$700 million which expired in June. The LIOC to date was enjoying a 16% market share for petrol and diesel in the local market.
Prices for industrial metals such as copper, zinc and aluminum have soared to record levels as energy shortages in China drive up costs for electricity and natural gas. [14] [15] The price of aluminum has reached a 13-year high. [16] [17] The energy crisis has intensified pressures on China ahead of the 2022 Winter Olympics.
Services accounted for 58.2% of Sri Lanka's economy in 2019 up from 54.6% in 2010, industry 27.4% up from 26.4% a decade earlier and agriculture 7.4%. [40] Though there is a competitive export agricultural sector, technological advances have been slow to enter the protected domestic sector. [41]
The Ministry of Energy (Sinhala: බලශක්ති අමාත්යාංශය Balashakthi Amathyanshaya; Tamil: பெற்றோலிய வள ...
Litro Gas is Sri Lanka's largest gas company. It controls 85% of Sri Lanka's gas market. The company is wholly owned by Sri Lanka Insurance Corporation.. Established in 1872 as Colombo Gas and Water Company, [3] it was a wholly owned subsidiary of Royal Dutch Shell until 2010, when it was purchased by the government of Sri Lanka.