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DateLine Sunday, 11 May 2008

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No change in oil prices

Ceylon Petroleum Corporation (CPC) chairman Asantha De Mel said that there will be no change in oil prices in the near future. The present oil stocks are sufficient for this month and new oil stocks will be ordered by the end of this month, he said.

CPC's gas will be marketed under the name Cepetco.

The marketing of Cepetco gas will take at least three months due to the government tender procedures to be followed to import gas cylinders, he said.

Cepetco gas cylinder will be red coloured, he said.

Petroleum Minister A. H. M. Fowzie said that 1.5 million gas cylinders are needed and 100,000 gas cylinders will be imported immediately in the first consignment.

The Cepetco gas price will be less than the prevailing gas prices, he said.

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