It is reported that Sri Lanka is still in discussions with various countries regarding the purchase of petroleum for the next months after January and no definite action has been taken so far sources said to Lankasara. The sources further said that due to the current severe foreign exchange crisis in the country, the government is looking for long-term loan concessions for fuel, and no definitive agreement has been reached with the countries that have been negotiating so far.
When Energy Minister Udaya Gammanpila visited a foreign conference on energy recently, he held talks with the Omani government to obtain fuel on a long-term loan basis, with the minister hoping to obtain a $ 3.6 billion facility for 20 years period with 05 year grace period. However, no final decision has been reached on the agreement and the Sri Lankan Foreign Minister has requested Saudi Arabia to provide the loan on a concessionary basis however the United Arab Emirates has not yet given a definite answer to this issue.
Speaking to the Newspaper, Sunday Times today, Minister Udaya Gammanpila has said that and he is searching for a possibility to buy fuel from China for a long-term concession on the basis of the international sovereign bond. He has stated that Minister is currently in discussions with the Chinese Ambassador to Sri Lanka regarding obtaining fuel from the Chinese Petrochemical Company for the next six months.
In addition, it has been proposed to reach an agreement with Sri Lanka on obtaining the US $ 500 million in concessional fuel from India.
According to reports, there are agreements for the supply of fuel in accordance with the supply agreements only until next January.
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