Jul 21, 2021

No bidders for crude oil Spot Tender! (Exclusive)

No crude oil supplier has bid for the Spot Tender called by the Ceylon Petroleum Corporation (CPC) to procure 700,000 barrels of crude oil, 'Sri Lanka Mirror' learns.

Bids for the Spot Tender for crude oil closed yesterday (20) and reports say that the companies had not made any bids due to the severe economic crisis prevailing in Sri Lanka, reports say.

Sources from the CPC say that usually, around 4-5 companies bid for such Spot Tenders.

Sri Lanka is currently facing a severe dollar deficit, which is expected to worsen after the government is to meet a $ 1 billion debt repayment deadline by July 31.

Earlier, another Spot Tender for Octane 92 Petrol was also closed earlier this month.

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