Sri Lanka eyes tanks in China-run port to store fuel buffer stock

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ECONOMYNEXT – Sri Lanka’s Minister for Power and Energy, Mahinda Amaraweera has asked officials to start talks with a Chinese company that runs a port in Hambantota in the south of the island, to use its fuel tanks to boost buffer stock capacity.

The Port, which has a bunker terminal has capacity to store 71,000 metric tonnes of fuel.

The tanks are now under the controls of China and Minister Amaraweera has asked officials to start talks on using the capacity or to get the Chinese firm to keep buffer stocks.

The ministry says there will be no shortages of fuel, contrary to fears spread by some quarters.

Sri Lanka 47,947 metric tonnes of 92-Octane Petrol, 16,000 tonnes of 95-Octane petrol, 111,957 tonnes of Lanka Auto Diesel, 4,463 tonnes of super diesel and 38,085 tonnes of jet fuel and 70,130 tonnes of furnace oil.

The stocks with state-run Ceylon Petroleum Corporation was enough to supply Sri Lanka for 19 days.

In addition on the 17th and 18 of January 16,000 tonnes of shipments were due to arrive in the island. On the 24 and 25 January another 15,000 metric tonnes of shipments are due to come to the island.

If unrest worsens in the Gulf, arrangements would be made to buy fuel from Malaysia and Singapore, the ministry said. (Colombo/Jan16/2020)

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