November 22, 2017 2:02 AM ET

Oil, Gas and Consumable Fuels

Company Overview of Ceylon Petroleum Corporation

Company Overview

Ceylon Petroleum Corporation engages in the refining, sale, and marketing of petroleum products. The company engages in refinery, marketing and sales, and aviation operations. It also offers agrochemical products, such as insecticides, weedicides, and fungicides; and provides refueling services at Bandaranaike International Airport, Katunayake. The company offers its products through a network of stockists and dealers in Sri Lanka. The company was incorporated in 1961 and is based in Colombo, Sri Lanka with area offices in Kegalle, Nugegoda, Kandy, Kurunegala, Anuradhalura, Galle, Badulla, Batticaloa, and Jaffna, Srilanka.

No.609, Dr. Danister de Silva Mawatha

Colombo,  09

Sri Lanka

Founded in 1961

Phone:

94 11 545 5455

Fax:

94 11 545 5400

Key Executives for Ceylon Petroleum Corporation

Managing Director and Director
Deputy General Manager of Finance
Director, Chairman of CPSTL and Managing Director of CPSTL
Acting Deputy General Manager of Technical Service & Corporate Affairs
Deputy General Manager of Human Resource & Administration
Compensation as of Fiscal Year 2017.

Ceylon Petroleum Corporation Key Developments

Ceylon Petroleum Corporation Announces Temporary Suspension of Workers Strike

Striking Trade Unions attached to the Ceylon Petroleum Corporation temporarily called off their strike after discussions with President Maithripala Sirisena late evening on July 26, 2017. The Unions said the suspension was temporary and would extend until July 01, 2017. They have taken the decision considering the difficulties encountered by the public due to the island wide strike. CPC TU is to have another meeting with the President and three more ministers who hold responsibilities regarding this matter. President Sirisena told them that there may be a possibility to introduce more amendments to the initial agreements on the Trincomalee oil tank farm and Hambantota refinery, though the government has already introduced amendments to the said agreements on an earlier occasion. Meanwhile, the Military which took over distribution duties following the declaration of distribution as an Essential Service. The spokesman said that the strikers had come to an agreement late last evening to resume services. The Ceylon Petroleum Corporation Trade Unions launched a strike action from Monday midnight (24) based on three demands including the acquisition of the Trincomalee Petroleum tanks complex to the CPC, acquisition of Hambantota Port Tanks Complex to CPC and modernisation of the Sapugaskanda Oil Refinery. Considering the inconvenience faced by the people, the government issued a gazette on Tuesday (25) declaring the Supply or Distribution of Fuel including Petroleum Products and Gas as an essential service. The government also announced that all CPC staff involved in petroleum distribution must report to work with immediate effect and those who fail to report to work will be considered as having vacated their posts. Military forces entered the Kolonnawa and Muthurajawela fuel storage terminals last morning to ensure the security of the tanks and to guide fuel distribution. The Police closed the Kolonnawa-Dematagoda road and the Police Riot Control Unit was called as the CPC workers extended their demonstration to the main road. A meeting held between the CPC TU representatives and the Kolonnawa refinery board of directors failed. However, the CPC TU workers said they will carry out essential services unless military personal within the refinery premises were to leave. The Ceylon Petroleum Storage Terminals Limited workers announced that they will return to work from July 26, 2017.

Sri Lanka To Reportedly Privatize Key Institutions

Former Minister and MP C.B. Rathnayake recently alleged that the Sri Lankan Government was planning to sell key government institutions such as Colombo Port, the Ceylon Electricity Board, Ceylon Petroleum Corporation and the National Water Supply and Drainage Board, Srilanka citing they were inefficient and suffering losses. "The government should be held responsible for any losses incurred by government institutions. We know most of the state institutions are inefficient at present. Are they going to sell them too?" Rathnayake recently stated.

Recent Private Companies Transactions

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