Sri Lanka's CPC Refutes Overpriced Oil Claims with Possible Legal Action

Sri Lanka's CPC Refutes Overpriced Oil Claims with Possible Legal Action

Sri Lanka's CPC Refutes Overpriced Oil Claims with Possible Legal Action In response to widespread reports, Sri Lanka's state-owned oil entity, the Ceylon Petroleum Corporation (CPC), firmly denied purchasing crude oil at the inflated rate of USD 286 per barrel. The Chairman, DJ Rajakaruna, emphasized that the CPC has neither paid nor committed to any such exorbitant pricing.According to the CPC, oil shipments since the escalation of the US-Iran…

CEYPETCO rejects reports of Sri Lanka paying US$286 per barrel for crude oil

The Ceylon Petroleum Corporation (CEYPETCO) has strongly rejected reports claiming that Sri Lanka paid US$286 per barrel for crude oil, calling the information false, misleading, and harmful to the institution’s reputation. In a formal clarification, CEYPETCO said crude oil imports to Sri Lanka are carried out only by the corporation for refining at the Sapugaskanda Refinery. It stated that no crude oil shipment imported or contracted by CEYPETC…