{"id":618802,"date":"2023-11-22T17:38:42","date_gmt":"2023-11-22T12:08:42","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=618802"},"modified":"2023-11-22T17:38:42","modified_gmt":"2023-11-22T12:08:42","slug":"us-oil-supplier-rm-parks-enters-sri-lankan-market","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/us-oil-supplier-rm-parks-enters-sri-lankan-market\/","title":{"rendered":"US oil supplier RM Parks enters Sri Lankan market"},"content":{"rendered":"<p>US fuel retailer RM Parks in collaboration with Shell Petroleum has entered Sri Lanka, becoming the fourth brand to operate oil stations in the cash-strapped island nation. The Board of Investment said that RM Parks Inc, a California-based US fuel distribution company, signed an agreement for an Investment of USD 100 mn.<\/p>\n<p>&#8220;The company will serve the Sri Lankan petroleum sector in collaboration with Shell Plc,&#8221; said an official statement.<\/p>\n<p>They will be the fourth retailer in the local liberalisation of the fuel sector after the state entity CPC, the Indian Oil Corporation&#8217;s local operation LIOC and Sinopec of China.<\/p>\n<p>RM Parks Inc. is a leading fuel distributor in California and has more than 50 years in the petrochemicals distribution industry.<\/p>\n<p>Sri Lanka faced fuel shortages due to forex crisis when the island last year was plunged into its worst-ever economic crisis since 1948.<\/p>\n<p>An Indian credit line provided the island nation&#8217;s fuel requirements when the country was stuck in mile-long queues for refuelling.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>US fuel retailer RM Parks in collaboration with Shell Petroleum has entered Sri Lanka, becoming the fourth brand to operate oil stations in the cash-strapped island nation. The Board of Investment said that RM Parks Inc, a California-based US fuel distribution company, signed an agreement for an Investment of USD 100 mn. &#8220;The company will serve the Sri Lankan petroleum sector in collaboration with Shell Plc,&#8221; said an official statement. They will be the fourth retailer in the local liberalisation of the fuel sector after the state entity CPC, the Indian Oil Corporation&#8217;s local operation LIOC and Sinopec of China. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[133],"tags":[],"class_list":["post-618802","post","type-post","status-publish","format-standard","hentry","category-oil-gas"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/618802","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=618802"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/618802\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=618802"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=618802"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=618802"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}