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Sinopec to invest in an oil refinery in Hambantota

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Sinopec, a Chinese company ranking fifth in the Fortune  Global 500 list of 2022, is planning to invest in a multi-million oil  refinery project in Hambantota, Daily Mirror learns.  

Sinopec, is a state-owned Chinese oil company based in  Beijing. The company is a “vertically integrated energy and chemical  company that is engaged in oil and gas exploration and production.” The  company currently offers bunkering services at the Hambantota port,  which is also a Chinese investment.

A top delegation from the Sinopec Group and the China  Merchants Group visited Sri Lanka recently to explore cooperation and  further investment in petroleum chemicals, trade, and port and  industrial park operation as announced by the Chinese Embassy in  Colombo.  

Negotiations are currently underway between the two sides on the proposed investment.  
Meanwhile, Power and Energy Minister Kanchana Wijesekera  said three global suppliers would enter the domestic retail market to  bring about a healthy competition.  

“Once the National Energy Committee gives its approval, it will be presented to the Cabinet,” he tweeted on Thursday.

 Lanka Indian Oil Company is the only foreign company carrying out retain fuel trade in Sri Lanka at the moment.

(dailymirror)

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Decision on bus fare revision, in 02 days – NTC

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The National Transport Commission (NTC) says a decision on revising bus fares following the recent fuel price adjustment will be made within the next 02 days.

NTC Director General – Naomi Jayawardena stated that the Commission will convene to finalize the decision.

She added that although the annual bus fare revision was scheduled to take effect today (July 01), it will not be enforced due to the fuel price change since midnight yesterday (June 30).

Despite the increase in fuel prices, key transport unions in Sri Lanka have decided not to raise fares for school children and three-wheeler passengers.

All Island School Children Transport Association Chairman – Malshri de Silva has announced that it will maintain current fare levels.

Meanwhile, Nishantha Kumara, Secretary of the Professional Three-Wheeler Owners’ Association, has also stated that their members will not increase fares in response to the fuel price hike.

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Youth dies in Kahawatta shooting

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A youth was killed and another injured in a shooting incident in Yainna, Kahawatta last night (June 30), police said.

According to reports, 04 individuals arrived at a residence in Yainna, abducted the 02 victims, and later shot them in a remote area.

A 22-year-old died at the scene due to gunshot wounds, while a 27-year-old was admitted to Kahawatta Base Hospital.

Police said the motive for the shooting remains unknown and investigations are ongoing to identify the suspects.

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A few showers expected today

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A few showers will occur in the Western, Sabaragamuwa and North-western provinces and in the Nuwara-Eliya, Kandy, Galle and Matara districts today (July 01), the Department of Meteorology.

Fairly strong winds of about 30-40kmph can be expected at times over the Western slopes of the central hills and in the Northern, North-central and North-western provinces and in the Trincomalee and Hambantota districts.

The general public has been requested to take adequate precautions to minimize damages caused by temporary localized strong winds and lightning during thundershowers.

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