Sinopec has submitted an Expression of Interest (EOI) for the Sapugaskanda Oil Refinery, despite the lack of any final agreement on the Hambantota plan, according to the Ceylon Petroleum Corporation (CPC).

CPC Managing Director Dr. Mayura Neththikumarage confirmed that Sinopec had shown interest in Sapugaskanda, noting that the company’s decision to explore both refinery projects simultaneously could explain the hold up on Hambantota.

“Sinopec is now considering a second project, which may be the reason we haven’t finalised the Hambantota deal,” Dr. Neththikumarage said. “But our position on Hambantota remains unchanged.”

The Hambantota refinery, which was initially envisioned as a multi-billion-dollar oil refining and storage complex, has faced numerous delays, and no concrete steps have been taken towards finalising the deal. 

Dr. Neththikumarage noted that Sinopec’s renewed focus on Sapugaskanda suggested a broader interest in Sri Lanka’s energy infrastructure. “They may be looking at both projects at the same time,” he added.

The Sapugaskanda Refinery, Sri Lanka’s only operational oil refinery, has long been in need of upgrades to meet growing energy demands. Sinopec’s EOI for this project signals its intent to deepen its engagement in the country’s energy sector, particularly after entering Sri Lanka’s retail fuel market last year.

While the Government remains open to Sinopec’s interest, Dr. Neththikumarage pointed out that the discussions were still in early stages. “No final decisions have been made yet, but it shows that Sinopec is committed to investing in Sri Lanka’s energy infrastructure,” he said.