COLOMBO (News 1st); Sri Lanka's Cabinet has given the green light to award licenses to Sinopec, United Petroleum, Australia & RM Parks of USA in a collaboration with Shell Plc to enter the Fuel Retail market in Sri Lanka.

Energy Minister Kanchana Wijesekera said that the Energy Committee & relevant other procurement committees had given their approval & recommendation to award the 3 companies the licenses to operate.

He said that the 3 companies will be allocated 150 Dealer operated fuel stations each which are currently operated by the Ceylon Petroleum Corporation.

He added that these companies will be granted a license to operate for 20 years to 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, he added. 

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