The Sri Lankan government has extended the petroleum products license of Lanka IOC, the local subsidiary of Indian Oil Corporation, for another 20 years. This will allow Lanka IOC to continue its retail operations in Sri Lanka until 2044. The license renewal has been met with opposition from the main opposition party, which questions the basis on which the renewal was granted and the lack of transparency in the agreement. The renewal comes as Sri Lanka faces an economic crisis and a liberalized energy sector with new players entering the market.
- News Source Indiatimes (Click to view full news): CLICK HERE
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