The Cabinet has approved a proposal to establish a subsidiary of the Ceylon Petroleum Corporation (CPC) to enable it to start its Liquefied Petroleum Gas business utilising refined products.
The proposal made by the Energy Minister also stated that a feasibility study is being 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.
“The Sapugaskanda refinery owned by the CPC produces 70 to 90 metric tons of LP gas per day, which is five percent of the country’s demand. The CPC has now recognised the importance of entering the gas market as the third competitor,” the Cabinet proposal stated.
CPC to enter into LP gas business
The Cabinet has approved a proposal to establish a subsidiary of the Ceylon Petroleum Corporation (CPC) to enable it to start its Liquefied Petroleum Gas business utilising refined products.
The proposal made by the Energy Minister also stated that a feasibility study is being 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.
“The Sapugaskanda refinery owned by the CPC produces 70 to 90 metric tons of LP gas per day, which is five percent of the country’s demand. The CPC has now recognised the importance of entering the gas market as the third competitor,” the Cabinet proposal stated.
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