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Monday June 3rd, 2024

Shell asked to bring premium fuels to start Sri Lanka retail distribution

ECONOMYNEXT – Leading global group of energy and petrochemical company Shell has been asked to import premium fuel products in addition to widely used petrol and diesel before starting the fuel distribution, State Power and Energy Minister D V Chanaka said.

The Shell and RM Parks (Private) Limited have already signed retail brand license and product supply agreements. However, the start of fuel distribution through 150 local fuel stations has yet to be started.

“They have already brought diesel and petrol consignments to Sri Lanka,” Chanaka told reporters at a media briefing in Colombo.

“They (Shell) requested to allow them to start work after they brought those two products. We told them that we have no ability to grant such permission.”

“We can give that opportunity only when they bring all 4 main products diesel, petrol, Octane 95 and super diesel.”

The State Minister said the reason behind such move was to compel Shell to use its own dollars to import premium petrol and diesel instead of buying from the local market.

“Our expectation was they should use their own dollars to bring down the products. They can’t use dollars from Sri Lanka market and if they do they deviate from the agreement,” he said.

“Once they bring down all four products, they can start the distribution. The premium products are coming on May 6 and 7. So May 10th they can start their distribution.

RM Parks (Private) Limited is a distributor of Shell fuels in the in North American fuel retailing market.

RM Parks (Private) Limited will rebrand to Shell an existing network of 150 retail fuel stations across Sri Lanka, which it was awarded a contract to operate for an initial period of 20 years by the Sri Lankan Ministry of Petroleum and Energy in 2023.

Shell company last month, however, has said the first Shell branded stations are expected to open in the third quarter of 2024. (Colombo/April 26/2024)

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  1. Kumar says:

    In California where I live the outlet don’t sell 95 octane fuel. Highest octane in California is 92. We all types of weather and terrains and only 92, 89, 87 are available and 92 is lot cheaper than 95. So why don’t the government limit the highest to 92. It will save ton of money for the country. I am sure somebody making money by importing the higher grade.

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  1. Kumar says:

    In California where I live the outlet don’t sell 95 octane fuel. Highest octane in California is 92. We all types of weather and terrains and only 92, 89, 87 are available and 92 is lot cheaper than 95. So why don’t the government limit the highest to 92. It will save ton of money for the country. I am sure somebody making money by importing the higher grade.

Water levels rising in Sri Lanka Kalu, Nilwala river basins: Irrigation Department

Sri Lanka Navy assisting in rescue operations (Pic courtesy SL Navy)

ECONOMYNEXT – Sri Lanka’s Irrigation Department has issued warnings that water levels in the Kalu and Nilwala river basins are rising and major flooding is possible due to the continuous rain. People living in close proximity are advised to take precautions.

“There is a high possibility of slowly increasing prevailing flood lowline areas of Kiriella, Millaniya, Ingiriya, Horana, Dodangoda, Bulathsinhala, Palinda Nuwara and Madurawala D/S divisions of Ratnapura and Kalutara Districts, up to next 48 hours,” it said issuing a warning.

“In addition, flood situation prevailing at upstream lowline areas of Ratnapura district will further be prevailing with a slight decrease.

“The residents and vehicle drivers running through those area are requested to pay high attention in this regard.

“Disaster Management Authorities are requested to take adequate precautions in this regard.”

The island is in the midst of south western monsoon.

DMC reported that 11,864 people belonging to 3,727 families have been affected due to the weather in Rathnapura, Kegalle, Kilinochchi, Jaffna, Mullaitivu, Kalutara, Gampaha, Colombo, Galle, Matara, Hambantota, Puttalam, Kurunegala, Kandy, Nuwara Eliya, Anuradhapura, Polonnaruwa, Badulla, Moneragala, and Trincomalee districts.

Meanwhile, the Meteorology Department stated that showers are expected on most parts of the island today.(Colombo/June3/2024)

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UNP gen secy defends call for postponing Sri Lanka poll, claims opposition silent

The UNP party headquarters in Pitakotte/EconomyNext

ECONOMYNEXT — United National Party (UNP) General Secretary Palitha Range Bandara has defended his call for postponing Sri Lanka’s presidential election by two years, claiming that his proposal was not undemocratic nor unconstitutional.

Speaking to reporters at the UNP headquarters Monday June 03 morning, Bandara also claimed that neither opposition leader Sajith Premadasa nor National People’s Power (NPP) leader Anura Kumara Dissanayake have spoken against his proposal.

“I have made no statement that’s undemocratic. My statement was in line with provisions of the constitution,” the former UNP parliamentarian said.

He quoted Section 86 of Chapter XIII of the constitution which says: “The President may, subject to the provisions of Article 85, submit to the People by Referendum any matter which in the opinion of the President is of national importance.”

Sections 87.1, 87.2 also elaborates on the matter and describes the parliament’s role, said Bandara.

“I spoke of a referendum and parliament’s duty. Neither of this is antidemocratic or unconstitutional. As per the constitution, priority should be given to ensuring people’s right to life,” he said.

“Some parties may be against what I proposed. They may criticse me. But what I ask them is to come to one position as political parties and make a statement on whether they’re ready to continue the ongoing economic programme,” he added.

Bandara claimed that, though thee has been much criticism of his proposal for a postponement of the presidential election, President Wickremesinghe’s rivals Premadasa and Dissanayake have yet to remark on the matter.

“I suggested that [Premadasa] make this proposal in parliament and for [Dissanayake] to second it. But I don’t see that either Premadasa nor Dissanayake is opposed to it. To date, I have not seen nor heard either of them utter a word against this. I believe they have no objection to my proposal which was made for the betterment of the country,” he said. (Colombo/Jun03/2024)

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300 of 100,000 trees in Colombo considered high risk: state minister

ECONOMYNEXT – Trees in Sri Lanka’s capital Colombo are being monitored by the municipal council, Army and Civil Defense Force as the severe weather conditions continue, State Minister for Defense Premitha Bandara Tennakoon said.

“Within the Colombo Municipal Council city limits, there are 100,000 trees. Of these, around 300 are considered high risk,” Tennakoon told reporters at a media conference to raise awareness about the current disaster management situation.

Not all trees required to be cut down he said. “We can trim some of the branches and retain them.”

The problem was that buildings in the vicinity of the tree had cut branches on one side, causing it to become unbalanced, the minister said.

New laws would be brought in so provincial/municipal institutions could strengthen enforcement of building codes.

“We don’t have a single institution that can issue a warning about a tree. Not one to tell us what trees can or cannot be planted near a road.

“Trees should be suitable for the area. Some trees have roots that spread and damage roads, buildings. When the roots can’t go deep, they tend to topple over.

“Now Environment Day is coming up, and anyone can go plant a tree by the road. We have to take a decision about this. We have to enforce laws strongly in future.” (Colombo/June3/2024)

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