United Petroleum of Australia has met with Minister of Power and Energy Kanchana Wijesekera to brief their plans and schedule to begin retail operations in Sri Lanka.
Taking to ‘X’ Minister Wijesekera confirmed that United Petroleum of Australia signed the agreement with the Ministry of Power & Energy last month to enter Sri Lanka’s petroleum retail operations.
He further said that the group’s CFO, Nigel Simonsz visited the Ministry to provide an update on their plans and schedule to begin retail operations through the 150 Fuel stations allocated to them.
Minister Wijesekera further said that United Petroleum of Australia plans to sign the agreement with the Board of Investment of Sri Lanka (BOI) and obtain the licence to operate by mid this year.
Australia’s United Petroleum is set to enter Sri Lanka’s retail market after authorities opened the nation’s retail fuel market to more foreign companies to solve the nation’s energy crisis as its depleted foreign reserves hindered imports of oil as a result of the economic crisis. (NewsWire)
