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Sinopec imports its first consignment of fuel
China’s Sinopec, a leading international petroleum company, had imported its first consignment of fuel to be distributed in the local market, Power and Energy Minister Kanchana Wijesekara said yesterday (01).
The Minister said in his Twitter that its second shipment would arrive today (03).
He said the entry of such suppliers into the domestic market would ease the foreign exchange requirements from the local financial institutions since they would bring stocks from their principal investors on a 12-month credit facility.
Sinopec will start fuel distribution in Sri Lanka through 150 filling stations throughout the country once the agreement is signed with dealers.