Minister of Power and Energy, Kanchana Wijesekera today (27) said that cabinet approval was granted today to award licenses to Sinopec, United Petroleum, Australia and RM Parks of USA in a collaboration with Shell PLC to enter the fuel retail market in Sri Lanka.

“Energy Committee & relevant other procurement committees had given their approval & recommendation to award the 3 companies the licenses to operate. The 3 companies will be allocated 150 Dealer operated fuel stations each which are currently operated by CPC. They 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 had further Tweeted.