Sri Lanka to Take Back Oil Tanks from Indian Company

oil indiaSri Lanka  is planing to renegotiate with Lanka IOC, a unit of Indian Oil Corporation. to take back unused oil tanks it had been given in the Eastern port of Trincomalee,Minister Keheliya Rambukwelle  told media that the government of Sri Lanka will use provisions in the agreement to take back unused oil tanks.

“If they are not using, or if they are not going to utilize it fully we are going to negotiate with them and ask them to give it,” he told  the media on a reporters Thursday.According to the minister only three tanks are been used at the moment.He  said that  as the state petroleum cooperation is engaged in a new development and expansion programme they could use the unused  oil tankers in the port city.

Previously the Indian oil company had said that it fears interference triggered by political  motivations of the government of Sri Lanka.
In Colombo Bussiness circles this is seen  by some as a  retaliation to India,s response to the US backed resolution. How ever minister Keheliya Rambukwella denied the two developments were linked.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s