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No fuel shortage due to Suez Canal blockage

29 Mar 2021

  • CPSTL and Energy Minister assert stocks adequate

  Ceylon Petroleum Storage Terminals Ltd. (CPSTL) Chairman Uvais Mohamed said yesterday (28) that there was no fuel shortage in the country due to the Suez Canal blockage, and that there are ample stocks to last for 20 days. He added that CPSTL has placed orders to purchase more fuel stocks, and that the ships carrying these stocks are on the way. “People need not panic, and there will be no fuel price increase either. A majority, or 65%, of the fuel we import arrives from India and Singapore, and the rest from the Middle East. Therefore, the Suez Canal blockage has no major impact here,” he said. Earlier, Minister of Energy Udaya Gammanpila also asserted that the “Suez Canal traffic jam” will not affect Sri Lanka’s fuel supply. The Minister said that even though the global economy has been affected by the container ship being stuck in the Suez Canal for five days, Sri Lanka has stocks of fuel for a period of 14 days; and that this should not be disturbed and overfilled, otherwise it could result in an artificial fuel shortage in the future. As fuel will be sourced to Sri Lanka from the UAE, Saudi Arabia, Kuwait, and Oman in the future, the Minister said the Suez Canal traffic jam will not negatively impact Sri Lanka's oil supply, and therefore, oil prices will not be increased. 


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