Home / Business and Economy / Sri Lanka Assured of Fuel Amid West Asia Conflict
Sri Lanka Assured of Fuel Amid West Asia Conflict
14 Mar
Summary
- Lanka IOC official guarantees continued fuel supplies.
- Sri Lanka's foreign minister discussed energy needs with India.
- LIOC operates 200 stations, holding 20% market share in Sri Lanka.
Amidst the conflict in West Asia, Lanka Indian Oil Corporation (LIOC) has provided a strong assurance of continued fuel supplies to Sri Lanka. K Raghu, the Managing Director of LIOC's Sri Lanka operation, confidently stated that the nation's energy needs would be met, emphasizing energy security as a top priority.
This pledge comes after Sri Lanka's Foreign Minister, Vijitha Herath, engaged in discussions with India's External Affairs Minister, Dr. S. Jaishankar, on March 6. These talks focused on sustaining the island nation's energy supply chain during the prevailing geopolitical tensions.
Raghu acknowledged the current situation is not without its challenges but reiterated that both companies and the government are diligently working to ensure stability. LIOC, a significant player in Sri Lanka's energy sector, operates 200 fuel stations across the country and commands a 20 percent market share. The company has previously aided Sri Lanka during its severe economic crisis in mid-2022.
