Nov 09, 2017

Russia’s Gunvor created Sri Lanka’s petrol crisis? Featured

The prevailing petrol crisis has been blamed mainly on the delayed arrival of Neverska Lady, carrying a consignment from Russia’s Gunvor company that makes supplies to the Ceylon Petroleum Corporation.

Reliable sources say that this is not the first time that this company had delayed the orders.

Gunvor was due to load fuel to Neverska Lady on 26 October and the ship to arrive in Colombo on 02 November.

However, the loading had taken place only on 01 November, leading to a six day delay.

The CPC’s commercial division that prepares timetables etc. for the shipload arrivals is to be blamed too, the sources add.

CPC kept no buffer stocks

Another reason for the crisis is that the CPC has not maintained stocks enough for a 30-day period.

Media reported that buffer stocks could not be kept due to a shortage of foreign exchange reserves.

But, an inquiry confirmed that a 180 day period is given to pay for a shipload of fuel.

The breakdown of the Sapugaskanda refinery for several days due to a power issue has aggravated the situation.

Ship with substandard petrol still in Trinco

Meanwhile, reports say the ship carrying the substandard petrol ordered by Lanka IOC and delivered by Total company still remains at anchor in Trincomalee.

There is another side to the allegation against the CPC that it should have got the substandard petrol filtered.

That should happen from ship to ship only, for which Sri Lanka is without the required facilities.

The nearest country with such facilities is the Maldives.

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