Govt. reinstates Vitol’s supplier status after fuel dispute

Tuesday, 17 December 2013 02:23 -     - {{hitsCtrl.values.hits}}

Reuters: Sri Lanka has reinstated Vitol, the world’s largest oil trading firm, as a supplier after investigations failed to show its diesel damaged State-owned vehicles, the Government said on Sunday. The State-owned Ceylon Petroleum Corporation (CPC) took Vitol off its supplier list in August 2012 after the Petroleum Ministry said around 150 mostly State-owned vehicles, such as buses, had been affected by the diesel. Vitol, which could not immediately be reached for comment, had rejected the allegation and said the cargo in question was tested in accordance with international standards by CPC inspectors before it was discharged. Petroleum Industries Minister Anura Priyadharshana Yapa said Vitol had filed a case demanding $ 2.5 million in damages after the inquiry failed to find any evidence the fuel had caused the damage. “We sought advice from the Attorney General and agreed to settle the matter,” the Minister said, adding that it had lifted the ban, without elaborating on the details of the settlement. Sri Lanka has been forced to boost imports of refined oil products as Western sanctions aimed at Iran have curbed the flow of crude from the OPEC member. Iranian oil is the main feedstock used by Sri Lanka’s sole refinery, which has a 50,000 barrel-per-day capacity. Sub-standard refined fuels have been blamed for damaging Sri Lankan vehicles in the past few years and the country has withheld payments or returned cargoes to various suppliers.

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Discover Kapruka, the leading online shopping platform in Sri Lanka, where you can conveniently send Gifts and Flowers to your loved ones for any event including Valentine ’s Day. Explore a wide range of popular Shopping Categories on Kapruka, including Toys, Groceries, Electronics, Birthday Cakes, Fruits, Chocolates, Flower Bouquets, Clothing, Watches, Lingerie, Gift Sets and Jewellery. Also if you’re interested in selling with Kapruka, Partner Central by Kapruka is the best solution to start with. Moreover, through Kapruka Global Shop, you can also enjoy the convenience of purchasing products from renowned platforms like Amazon and eBay and have them delivered to Sri Lanka.