CPC to enter LP Gas market

 

The government has decided to establish a subsidiary of the Ceylon Petroleum Corporation to commence Liquefied Petroleum Gas (LP Gas) business utilizing refined products.

The Sapugaskanda refinery, owned by the CPC produces 70 to 90 metric tons of LP gas per day, which is 5% of the country’s demand.

Meanwhile, a feasibility study has been carried out to set up a new refinery with a capacity of 10,000 barrels per day, and plans are being drawn up to expedite the implementation of these development projects.

Accordingly, the Cabinet of Ministers has approved the proposal tabled by the Minister of Energy to establish a subsidiary of the CPC to enable it to start its Liquefied Petroleum Gas (LP Gas) business utilizing refined products and enter the gas market as the third competitor