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Discussions held with friendly countries:
No disruption in fuel supply despite US embargo
by L.S. Ananda WEDAARACHCHI
An uninterrupted supply of fuel will be ensured despite the US
embargo, Petroleum Industries Minister Susil Premajayantha said.
 The fuel issue has been carefully studied. Although Iran has assured
Sri Lanka of a regular supply, discussions have been held with other
friendly countries such as Oman as a contingency measure, the Minister
said. He said that Sri Lanka has time till the end of June this year to
seek a solution to tide over the difficulties. Iran supplies over
135,000 barrels of crude oil monthly at around US $ 100 per barrel as it
is considered the most suitable for the Sapugaskanda Oil refinery.
According to the Petroleum Industries Minister, Sri Lanka is
exploring the possibility of obtaining Omanese assistance to improve the
local petroleum industry.
Oman Oil and Gas Minister Dr. Mohamad Bin Hamad Al-Rumbi who visited
Sri Lanka last month held several rounds of discussions with Economic
Development Minister Basil Rajapaksa and Petroleum Industries Minister
Susil Premajayantha on the supply of fuel and other matters such as
investments and developing the oil industry in Sri Lanka. A high-powered
official delegation is due in Sri Lanka soon to improve the Sapugaskanda
Oil refinery, the Petroleum Minister said.
India said that it would use its own currency-the rupee to buy oil
from Iran in the backdrop of US-led sanctions aimed at forcing Teheran
to abandon its nuclear program. India said that it would continue to
import oil from Iran despite the US and European Union embargo.India
pays around US$ 1 billion monthly through Turkey for its daily
requirement of 370,000 barrels.
National Iranian Oil Company Managing Director Ahamed Qalebani said
the crude oil price may hit US $ 150 per barrel in the aftermath of new
sanctions. US President Barrack Obama on December 31, 2011 signed into
law new sanctions against Teheran seeking to penalise countries
importing Iranian oil or doing business with the Islamic Republic. |
