Jul 28, 2021

No bidders for 2nd consecutive crude oil Spot Tender!

A Spot Tender called by the Ceylon Petroleum Corporation (CPC) to secure 700,000 barrels of crude oil, which was closed yesterday (28) had failed to attract bidders, 'Sri Lanka Mirror' learns.

This is the second consecutive time in 07 days that crude oil companies have not bid in this manner.

A similar Sport Tender called by CPC on July 20 had also failed to attract any bids.

Reports say that the companies had not made any bids due to the severe economic crisis prevailing in Sri Lanka.

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

Earlier this month, another Spot Tender for Octane 92 Petrol was also closed by the CPC citing that the bids were too high.

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