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Thursday, November 04, 2010 - 4.34 GMT |
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SL, India hold
bilateral talks on petroleum sector |
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Sri Lanka yesterday (Nov.03) held bilateral discussions with India on the petroleum sector and sought an increased cooperation in Hydro Carbon Sector.
During the conference of Petrotech 2010 held in New Delhi, Minister of Petroleum Industries Susil Premajayantha held talks with the Indian delegation comprising Petroleum Secretary S. Sundareshan, CEOs of Oil Public Sector Units (PSUs) and other senior officers of Ministry and PSUs.
The two Ministers expressed satisfaction at the progress in cooperation in the hydrocarbon sector.
Minister Susil Premajayantha stated that the presence of Lanka IOC a subsidiary of IOC which operates marketing infrastructure in Sri Lanka including 152 retail outlets could be strengthened.
He added that the decision on petrol and diesel price revision would be taken after presentation of Budget on 22nd November. He expects major tax reforms in the Budget which would have bearing on the pricing.
He also said that Sri Lanka is calling for expression of interest to revamp up its 2 MMTPA (Million Metric Tonne Per Annum) refinery to 4 MMTPA in which IOC could also participate.
The two sides agreed to share data and information on the geological basins on the two sides of the border, being similar in nature. This will help greater cooperation in the exploration of hydrocarbons.
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