No fuel shortage - CPC Head

Ishara Mudugamuwa

There will be no fuel shortage in the country as there are sufficient stocks of refined fuel in the local market, Ceylon Petroleum Corporation (CPC) Managing Director Susantha Silva said.

Rumours are being spread about a fuel shortage in the coming weeks but the public need not fear since there are ample stocks, he said. He said due to the economic sanctions imposed on Iran by the United States, crude oil imports have been delayed.

"But the CPC has taken measures to import crude oil under an urgent purchase procedure," Silva said.

The Managing Director said the Sapugaskanda Oil Refinery is more suitable for Iranian light crude oil.

"The Ceylon Petroleum Corporation management is making a tremendous effort to purchase oil from Iran. Due to economic sanctions, that effort has been hindered. But they are still trying to purchase oil from Iran," he said. "Soon after the economic sanctions imposed on Iran, the CPC took measures to purchase oil from other sources. The CPC has placed orders to import crude oil which is necessary for oil purification for November and December. The first stock will be received by November first week," he said.

Silva said CPC has also ordered Arabian light oil stocks and it will be received by next month. The CPC plans to continue the purification process within the next two months. Rumours are also being spread in the country regarding an oil import problem by highlighting that it is because of a conspiracy, he said.