Connect with us

News

Lanka orders US Crude for Iran-built refinery

Published

on

(Insight) –Sri Lanka’s state-owned fuel retailer Ceylon Petroleum Corporation (CPC) has ordered West Texas Intermediate (WTI) crude as it was unable to secure Murban crude shipment, its chairman said.

This island nation is purchasing WTI for the first time for its 50,000 barrel-per-day refinery in Sapugaskanda in 57 years since it was built by Iran in 1969 to refine Iranian light crudes.

Since the U.S. sanctions imposed on Iran in 2011, the island nation has been unable to import Iran crude and switched to Murban, light crude from the Middle East.

“We in fact changed the crude in our refinery to face such a crisis. We switched WTI (West Texas Intermediate), an American crude,” CPC Chairman D.J.A.S. De S. Rajakaruna told reporters at a media briefing on Saturday (28).

“We brought a (WTI) sample and did all the tests and we are ready to take it. We even have called for two tenders. They could not come because the freight was high,” he said.

As the U.S. Operation Epic Fury expanded in early 2026, the threat of secondary sanctions effectively severed Sri Lanka’s access to its primary feedstock, fearing closure of the refinery and reducing its output to a fraction of its 50,000-barrel-per-day capacity.

This technical mismatch has left the country heavily reliant on the more expensive import of refined fuels rather than crude, further draining foreign exchange reserves.

In tandem with these restrictions, government officials have told Insight that the U.S. has intensified its diplomatic push for Sri Lanka to pivot toward American energy products as a long-term alternative to Middle Eastern and Russian supplies.

While the U.S. Treasury provided a brief 30-day waiver in March 2026 for the purchase of certain stranded shipments, the overarching strategy has been to integrate Sri Lanka into the U.S. energy export network.

However, this transition presents a logistical and financial hurdle; U.S. WTI and other American blends cannot be efficiently processed at Sapugaskanda without a total overhaul of the facility, though the CPC chairman said the refinery was ready to refine WTI.

“The problem is we haven’t refurbished our refinery. So we have limited options of crudes we can refine,” Rajakaruna said.

Sri Lanka is yet to receive a crude shipment since the U.S./Israel attack started on February 28 amid restrictions for ships at Strait of Hormuz.

“We have now floated tenders for WTI including Saharan Blend from Algeria. We are also trying to buy Siberian Crude from Russia. In May, we are getting a WTI shipment. So we don’t have to wait for them (Murban),” Rajakaruna said.

He said Murban crude which is used for the local refinery comes only from Abu Dhabi National Oil Company (ADNOC) in the UAE.

The Sapugaskanda Oil Refinery, Sri Lanka’s only crude oil processing facility, has faced a severe operational crisis due to the tightening of U.S. sanctions on Iranian energy exports.

Architecturally designed to process Iranian Light crude, the refinery’s configuration is incompatible with the sweet or light varieties produced in other regions without significant and costly technical modifications.



Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

News

Record 1,600 students take Russian Classical Ballet examination in Sri Lanka

Published

on

By

More than 1,600 students sat this year’s Russian Classical Ballet Examination, the largest number ever to take part in the examination in Sri Lanka. Exams were held in Colombo from 5, to 18, October and in Galle on 10 October.

Students aged four and above came from across the island, including Colombo, Galle, Gampaha, Negombo, Matara, Kelaniya, Panadura, Wattala, Kiribathgoda, Ratnapura, Kandy, Kurunegala, Bandarawela and Badulla. They are taught by 15 dedicated teachers trained in the Vaganova method, the renowned Russian system of classical ballet training.

They were examined by  Dr. Oxana Karnovich of the Moscow State Academy of Choreography,  a distinguished academic and curator.

The Russian School of Ballet and Dancing was established in 2001 by  Michael Ustinov, Buddhapriya Ramanayake and Mrs Chandi Aluvihare, with Mrs Galina Pleshakova as its founding instructor. Today the School is led by Director Madam Maria Popova, Counsellor of the Embassy of the Russian Federation in Sri Lanka.

 

Continue Reading

News

Buddhist hierarchy demands prison perks for monk convicts

Published

on

MONETABRIEF– Sri Lanka’s two most senior Buddhist chapters, Malwatte and Asgiriya, demanded special concessions for monks serving prison sentences, following the disrobing of convicted monk Ven. Galagodaatte Gnanasara in line with established procedures.

The chief prelate of the Asgiriya chapter, Most Venerable Warakagoda Sri Gnanarathana, told Prisons Commissioner Senaka Palletenna that Ven. Gnanasara, who is serving a six-year sentence for contempt of court, must be released immediately.

Prison authorities have no power to release or pardon convicts, but Palletenna told the monk in Kandy on Friday that he would convey his request to the relevant government authorities.

“There is no point in talking about this and that… The entire country has been shaken (??????? ) . He must be released,” the Asgiriya chief prelate said.

The Malwatte chief prelate, Most Venerable Thibbatuwawe Sri Siddhartha Sumangala, appeared to accept the court verdict against Ven. Gnanasara, but asked the prisons chief whether a separate section could be established for convicted monks.

Palletenna noted that a special ward for the clergy already existed at Welikada Prison.

At least 63 convicted Buddhist monks are currently incarcerated within Sri Lanka’s criminal justice system.

Meanwhile, a group of 34 Buddhist monks named in a Colombo Fort Magistrate’s Court order to vacate the vicinity of the Presidential Secretariat ended their protest and dispersed after lunch on Friday.The monks are demanding an unconditional pardon for Ven. Gnanasara, who has previously been imprisoned, making him a reconvicted prisoner.

Continue Reading

News

Debate on NCM against Speaker postponed indefinitely

Published

on

The debate on the no-confidence motion against Speaker Dr. Jagath Wickramaratne, submitted by the Samagi Jana Balawegaya (SJB), has been postponed indefinitely pending the Attorney General’s opinion on certain technical issues in the motion.

Government representatives raised the matter at a meeting of the Committee on Parliamentary Business, pointing out that several provisions of the motion required clarification and that the Attorney General’s advice should be obtained.

As obtaining the opinion would take time, the debate could not be scheduled for the next parliamentary week, parliamentary sources said.

Chief Opposition Whip Gayantha Karunatilaka said a date for the debate would be decided after the Attorney General’s advice was received.

Meanwhile, Parliament is scheduled to meet from October 20 to 23, Secretary General of Parliament Kushani Rohanadeera announced.

The parliamentary business for the week was finalised at a meeting of the Committee on Parliamentary Business held on Friday (16) under the chairmanship of Deputy Speaker Dr. Rizvie Salih.

On each sitting day, the period from 9.30 a.m. to 10 a.m. will be allocated for parliamentary business under Items 1 to 6 of Standing Order 22. Questions for Oral Answers will be taken up from 10 a.m. to 11 a.m., followed by questions under Standing Order 27(2) from 11 a.m. to 11.30 a.m.

On Tuesday, October 20, an Opposition-sponsored Adjournment Motion will be debated from 11.30 a.m. to 5.30 p.m.

On Wednesday, October 21, a resolution under the Public Debt Management Act and a Supplementary Estimate will be taken up for debate and approval from 11.30 a.m. to 5 p.m. The annual reports of five statutory institutions will subsequently be presented for approval without debate, while questions at the Adjournment Time will be taken up from 5 p.m. to 5.30 p.m.

On Thursday, October 22, the Second Reading debates on two Bills to amend the Poisons, Opium and Dangerous Drugs Ordinance (Bills Nos. 79 and 80) will be held from 11.30 a.m. to 5 p.m.

The annual reports of five statutory institutions will then be taken up for approval without debate, followed by an Opposition-sponsored Adjournment Motion from 5 p.m. to 5.30 p.m.

On Friday, October 23, the Second Reading debate on the Elimination of Rabies and Registration of Dogs Bill will be held from 11.30 a.m. to 5 p.m. A Government-sponsored Adjournment Motion will be debated during the final half-hour of the sitting.

Continue Reading

Trending