United Petroleum was launched in Sri Lanka today. They will commence retail fuel operations in September with 150 dealer owned and operated fuel stations according to Minister Kanchana Wijesekara
United Petroleum of Australia becomes the 4th retail operator to enter the Sri Lankan market after LIOC, Sinopec, RM Parks-Shell.
United Petroleum of Australia officially joined the energy sector in Sri Lanka, by signing an agreement with the Board of Investment of Sri Lanka (BOI) earlier this year.
According to the BOI, United Petroleum of Australia has made an initial investment of US$ 27.5 million via the agreement.
The BOI revealed that the company will take over 150 existing fuel stations across Sri Lanka, while it has also secured the rights to build 50 new fuel stations. (Newswire)
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