Minister of State for Power and Energy D. said that by resuming the bunkering system for vessels, they were able to earn 03 million dollars by selling 5,200 metric tons of fuel. V. Mr. Chanaka said.

The state minister also mentioned that a surplus of 200 million dollars is being maintained for energy needs.

Minister of State for Power and Energy D. V. Mr. Chanaka mentioned this while joining the news conference held at the Presidential Media Center today (08) under the theme ‘One way to a stable country’.

State Minister of Electricity and Energy D. V. Mr. Chanaka also said,

We are currently in a situation where the country is gradually rising up in the face of the difficult economic crisis. There was a time when we all stood in oil queues. With the dedication of everyone, it has been possible to maintain a stable oil supply. We currently hold the largest amount of oil reserves in recent history. We have also been able to maintain a balance of petroleum legal corporation dollars.

A surplus of 200 million dollars is maintained for energy needs and efforts are being made to obtain the required amount of dollars for a week within the same week. As of today, 130,791 MT of Auto Diesel, 83,275 MT of Petrol 92 Octane, 8313 MT of Super Diesel, 11,196 MT of Petrol 95 Octane, 17,274 MT of Jet A1 used for aircraft and 17,274 MT of Fuel Oil (FO ) maintained at 75,410 metric tons.

Also, according to the tender procedure, long-term contracts have been entered into to obtain the required oil for the next 06 months. This has enabled us to maintain energy security.

From December to the middle of April, it has become normal for fuel prices to rise in the world market. The reason for this is that with the onset of winter in Europe, the use of oil is high. It should be said that the increase in the price will happen every year with the increase in demand during that period. Accordingly, with the end of the winter season, we can expect a decrease in oil prices after March. We are working to provide the benefit to the customer.

Also, payment of late fees was made every year before the year 2022. But in 2023, we worked to introduce a new system. Arrangements were made to store the ships as soon as they arrived at the port. Then we made the purchase of oil after paying the dollars we have. Through that system, after 15 years, we did not pay a single rupee as late fees.

Also, until now, the Petroleum Corporation has been purchasing fuel by calling for tenders according to the normal method. But we are working to introduce an auction system for calling tenders in the future. We have been able to complete about 95% of its work so far. The oil storage terminal provides us with the necessary technical knowledge.

We believe that with the introduction of new technologies available in the world to Sri Lanka, we will be able to further reduce fuel prices.

Also, after 02 years in 2024, we started bunkering system. It was possible to earn 03 million dollars by selling 5,200 metric tons of fuel for ships. It is also expected to start the work of filling diesel to the vessels in a very short time.