Petroleum Minister says Sri Lanka's CPC has exported furnace oil at a profit

Sri Lanka's Petroleum Minister Susil Premajayantha has said the state owned Ceylon Petroleum Corporation (CPC) had exported a large stock of furnace oil last month.

Premajayantha has told the media that there has been a low demand for furnace oil from the Ceylon electricity Board (CEB) last month.

The CPC has therefore exported 25,000 metric tons of furnace oil at a profit.

Premajayantha has explained that the furnace oil had been imported and stocked for the purpose of thermal power generation by the CEB, but was to be sold and the first stock was exported for a profitable margin last week.

The CEB's requirement for furnace oil had declined due to the increase in hydropower generation in the country following the heavy rains.