Seems like not many are interested. This is a big ticket item.
The distribution of oil is based on a MOU that was signed between Ceypetco and Indian Oil Corporation.
Like the hedging agreement Ceypetco has no authority to enter into agreements on behalf of the Govt.
Now the talk is that IOC's distribution rights will be transferred to Aramco.
IOC signs MoU with Ceylon Petroleum
By Our Special Correspondent
NEW DELHI, JUNE 11. The Indian Oil Corporation (IOC) today signed a memorandum of understanding with the Ceylon Petroleum Corporation (CPC) for taking over 100 petroleum retail outlets in Sri Lanka. IOC and CPC have agreed to operate and use the existing and future downstream infrastructure in the petroleum sector on a common user principle basis.
In addition, IOC will take over the Trincomalee tankages on long term lease. The Indian company's operations will begin within the next four to six months. The MoU was signed here by the IOC Chairman, M. S. Ramachandran, and the CPC Chairman, Daham Wimalasena, on behalf of IOC and CPC respectively. The CPC is Sri Lanka's national oil company and is the only one in the island nation.
Under the MoU, the CPC will divest 100 retail outlets owned by it in favour of IOC and will assist IOC to re-assign the franchise outlets. IOC will modernise and provide additional services through these retail outlets. For development and better operating efficiency of petroleum terminals, storage depots including aviation fuelling facilities and other infrastructure in Sri Lanka, both companies have agreed to operate and use the existing and future downstream infrastructure on a common user principle basis. Besides, the Trincomalee tankages will be taken over by IOC on a long term lease. IOC and CPC will also carve out modalities to facilitate supply of petroleum products to Sri Lanka through IOC.