Sri Lanka eyeing direct oil import as demand increases

The Sri Lankan government expects to buy crude oil and other petroleum related products directly from oil-producing countries as a strategy to reduce the cost, a senior minister said Wednesday.

Susil Premajayantha, Minister of Petroleum Industries, said the government has already commenced discussions with relevant countries on importing oil to Sri Lanka without brokers.

Premajayantha said he held a discussion with Omani Ambassador to Sri Lanka, Hamed Ali Alman, who expressed interest in providing crude oil, lubricant oil and liquefied petroleum gas directly to Sri Lanka at a reasonable price which is lower than current purchasing price.

The minister said the ambassador invited him to go to Oman for more discussion in that regard.

Premajayantha said local and foreign investors as well as the government started massive development projects after the long- standing civil conflict ended in May last year, leading to a demand hike for oil, and therefor it is important to maintain a reasonable oil price. 
(Source:xinhua)