Corporation did not pay 286 dollars per barrel of crude oil, says CPC chairman

The Chairman of the Ceylon Petroleum Corporation (CPC) has announced that statements circulating via social media and various sectors regarding the price of crude oil imported by the corporation are false.

Accordingly, the Chairman states that reports circulating claiming the corporation has agreed to pay 286 US Dollars per barrel of crude oil are completely untrue, and that no agreement has been entered into for such a price.

He further mentions in the issued statements that despite the unrest in the Middle East, the corporation has succeeded in obtaining crude oil at very advantageous prices relative to the prices prevailing in the world market. Consequently, the price of a barrel of crude oil scheduled to arrive in the future will approximately take values such as 71.99, 111.62, 71.81, and 113.29 Dollars.

The Chairman emphasised that the Ceylon Petroleum Corporation is the only entity that imports the crude oil required for the Sapugaskanda Refinery to this country, and that the corporation is currently in an advantageous position relative to other competitive companies.