The first fuel cargo of Sinopec has commenced discharging and the second cargo will arrive tomorrow, Power and Energy Minister Kanchana Wijesekera said.
In a tweet, he said Sinopec will commence retail petroleum operations with 150 fuel stations islandwide once the agreements with the fuel station dealers are signed and finalized.
“The entry of new retail suppliers to the domestic market will ease the forex requirements for petroleum products as the suppliers will bring in products on a 12 month financing facility from their principal investors with no forex requirements from the domestic financial institutes,” he said.
