It is reported that Sri Lanka, which is being described by the world media as a bankrupt nation, is facing a shortage of everything including petrol and diesel and will receive Russian crude oil for fuel production from tomorrow.
The crude oil will be processed at the Ceylon Petroleum Corporation refinery at Sapugaskanda, Chairman Sumith Wijesinghe said. The country’s only refinery has been shut down for more than two months due to a shortage of crude oil. The Minister of Power and Energy has issued a Twitter message stating that crude oil is due to be received on May 28 and that it can be restarted.
Following the invasion of Ukraine by Moscow, sanctions were widely condemned and imposed. Thereafter, Sri Lanka became the latest Asian country to recognize Russian crude oil. Many refiners across the U.S. and Europe have stopped buying from the OPEC + maker, prompting Russian oil prices to fall. As a result, opportunistic purchases in China and India have increased.
Mr. Wijesinghe said that Siberian light crude oil is used for the Sapugaskanda refinery. It is one of the few crude oils that can be refined at our refineries in Abu Dhabi with Marban and Iran Light Oil. But it has not been reported how Sri Lanka will pay for the crude oil.
“The Sapugaskanda refinery will start tomorrow with the unloading of a stock of crude oil for the first time since March 20,” Minister Kanchana Wijesekera said in a Twitter message today (27).
An independent country, Sri Lanka is facing the worst financial crisis in its history, with shortages of everything from food to oil. The supply of fuel was so low that the government warned citizens not to queue for gasoline at gas stations.
However, political stability in Sri Lanka has not yet been established and political leaders are still playing to maintain their power. Also, the supply of crude oil has been delayed due to the cunning tactics of various businessmen. While the Sri Lankan media has been making inquiries about this, various reports have cast doubt on whether there is any cunning behind the sudden announcement that the tanker will arrive tomorrow.
