American crude arrives for the first time
Sri Lanka, May 29 -- A stock of American crude oil arrived in the country for the first time yesterday, steadying the fuel supply despite a possible price hike expected soon, an official said yesterday.
Sri Lanka, during tariff negotiations with the United States under the Trump Administration, decided to include the American crude - West Texas Intermediate (WTI) - in calling international tenders for fuel purchases. It was a measure aimed at reducing the trade gap between the two countries.
Managing Director of the Ceylon Petroleum Corporation (CPC), Dr Mayura Nettikumara told Daily Mirror yesterday that a stock of 89,000 tonnes of WTI ordered by his office had arrived at the moment.
Asked about plans for Russian oil purchases, he sai...
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