Australia’s United Petroleum has entered into an agreement with the Sri Lankan government to supply petroleum products to the Sri Lankan market, it was reported.
According to United Petroleum Lanka, Australia’s United Petroleum entered into the relevant agreement with Sri Lanka’s Ministry of Power and Energy on Thursday (Feb 22).
Following the signing of the agreement, United Petroleum is assigned 150 existing fuel stations and also has the right to build 50 new fuel stations in Sri Lanka.
Sri Lanka opened its retail fuel market to more foreign companies to solve the nation’s energy crisis as its depleted foreign reserves hindered imports of oil as a result of the economic crisis. (NewsWire)