Sri Lanka to buy fuel from Indian Oil to tide over energy crisis
Sri Lanka has decided to purchase petrol and diesel, 40,000 metric tonnes each, from the Indian Oil Corporation (IOC), according to a Cabinet note on Tuesday, as part of the government’s bid to tide over the current fuel and energy crisis faced by the island nation.
The move came weeks after Power Minister Gamini Lokuge said that Sri Lanka will hold talks with the Indian Oil Corporation’s local entity, amidst a severe foreign exchange crisis.
The Lanka IOC, the Sri Lankan subsidiary of India’s oil major Indian Oil Corporation, has been in operation in Sri Lanka since 2002.
