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FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » LIOC imports substandard petrol again?

LIOC imports substandard petrol again?

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1LIOC imports substandard petrol again? Empty LIOC imports substandard petrol again? Sun Mar 10, 2013 8:55 pm

Whitebull


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
LIOC imports substandard petrol again?

March 10, 2013 03:31 pm




The Ceylon Petroleum Corporation (CPC) says a special inspection is being carried out on a consignment of petrol imported by Lanka IOC to the Trincomalee Harbour.

Measures have been taken to conduct test on petrol samples, CPC Managing Director Susantha Silva said.

16,000 metric tonnes of petrol brought down by Lanka IOC had reached China Bay last evening while it has been reported that the quality of the fuel has sparked controversy.

Mr Silva said the unloading of the fuel shipment has been prohibited without special tests.

The CPC added that substandard fuel will not be allowed to be brought into the country.

Meanwhile industry trade unions claim that initial laboratory tests have confirmed that the petrol is substandard.

However, attempts by Ada Derana to contact an official of the Lanka Indian Oil Company (LIOC) failed.

Last month 5,000 metric tonnes of substandard diesel imported by Lanka IOC was rejected by Ceylon Petroleum Storage Terminals Limited (CPSTL).
http://www.adaderana.lk/news.php?nid=21923&mode=beauti

smallville

smallville
Associate Director - Equity Analytics
Associate Director - Equity Analytics
What's goin on with this LIOC now? This is not gonna be good news for them.

Redbulls

Redbulls
Director - Equity Analytics
Director - Equity Analytics
The LIOC today rejected the ‘false rumour’ circulating that the LIOC has received contaminated Petrol at Trincomalee. However the Ceylon Petroleum Corporation (CPC) yesterday said that a special inspection is being carried out on a consignment of petrol imported by Lanka IOC to the Trincomalee Harbour.

“We understand that a completely baseless and false rumor is getting circulated that LIOC is receiving contaminated Petrol at Trincomalee, the LIOC said in a press release.

The release added, “LIOC has been generally importing petroleum products for discharge at Colombo and Trincomalee. The ship discharging at Trincomalee has carried 26750 MT of Petrol out of which 10450 MT of petrol was initially discharged at Colombo after getting complete specification test done at CPSTL Lab after confirming that the product is meeting the specifications. After completing the discharge at Colombo, the ship has now been sent to Trincomalee for discharge of balance quantity of 16300 MT of Petrol. Even though the product was meeting the full specification at Colombo, as a measure of abundant precaution, testing was again carried out at Trincomalee and after ensuring that the product was meeting specification, discharge of Petrol has started.

We would like to assure all our customers that Lanka IOC is committed to supply petroleum products meeting the specification.”

It was reported yesterday that 16,000 metric tonnes of petrol brought down by Lanka IOC had reached China Bay; quality of the fuel has sparked controversy.

CPC Managing Director Susantha Silva said the unloading of the fuel shipment has been prohibited without special tests.

The CPC added that substandard fuel will not be allowed to be brought into the country.

Meanwhile industry trade unions claim that initial laboratory tests have confirmed that the petrol is substandard.

Last month 5,000 metric tonnes of substandard diesel imported by Lanka IOC was rejected by Ceylon Petroleum Storage Terminals Limited (CPSTL).
http://adaderana.lk/news.php?nid=21931

Redbulls

Redbulls
Director - Equity Analytics
Director - Equity Analytics
The Colombo High Court today ordered the immediate seizure of a Vietnamese Ship - Vina Lion’s Glory, which was alleged to have transported the contaminated stock of fuel imported by Lanka Indian Oil Corporation (LIOC).

The LIOC filed action at the High Court seeking redress to a two and a half million USD it had suffered as a result of the contamination of 4500 MT of fuel.

Accordingly, investigations had revealed that the fuel had been contaminated during transportation from Singapore and due to no fault of the supplier or the importer.( Dasun Rajapaksa)
http://www.dailymirror.lk/news/26654-lioc-contaminated-oil-court-orders-immediate-detention-of-ship.html

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