Sri Lanka to procure 450,000 barrels of crude oil from Cyprus

The Cabinet of Ministers has given the go-ahead to purchase 450,000 barrels of crude oil from a Cyprus-based company for the Sapugaskanda Oil Refinery through a 180-day loan scheme.

 

The proposal to supply crude oil under the 180-day loan scheme was evaluated by the Special Standing Procurement Committee appointed by the Cabinet of Ministers and it has recommended supplying a shipment of 450,000 barrels, the government said.