RM Parks to commence retail petroleum distribution from next January

US Energy Company RM Parks, signed thE agreement with Board Of Investment (BOI) and implementation agreement with the Ministry of Power and Energy yesterday and is expected to commence operations next January, Minister Kanchana Wijesekera said. 

RM Parks Inc. California-based US fuel distribution company signed an agreement with the BOI with an Investment of U$ 110  Mn, according to the BOI.  

The company will serve the Sri Lankan petroleum sector, in collaboration with Shell Plc.  RM Parks also explores for and extracts crude oil, natural gas, and natural gas liquids; markets and transports oil and gas; produces gas-to-liquids fuels and other products; and operates upstream and midstream infrastructure necessary to deliver gas to market. 

BoI also said that the company engaged in the business of the development of infrastructure relating to petroleum by, setting up, conducting, and operating One Hundred Fifty (150) franchise fuel stations which are owned by  Ceylon Petroleum Corporation, and Fifty (50) new fuel stations as per the Long-Term Contract entered into with the Ministry of Power and Energy and further to import, store, distribute and sell petroleum products including petrol, diesel, jet A-1, kerosene and furnace oil, and related value-added products and to expand its business to distribution of other petroleum or gas products, by-products (including aviation fuel), EV charging, and provision of value-added services such as car wash, car service, department stores/ convenience stores, internet café, ATM, food courts in the local market.