Iraq offers oil to Sri Lanka
Monday, 19 March 2012 | 12:49
War-torn Iraq is offering to supply substantial quantities of fuel to Sri Lanka as the noose tightens on continued flows from Iran, Sri Lanka’s main fuel supplier, with supply stopping on March 29.
Petroleum Ministry officials said yesterday Sri Lanka would stop crude oil imports from Iran from March 29, ahead of the US June 28th deadline. Any country importing goods from Iran after would be subject to US penalties.
They said fuel purchases from Iraq, Saudi Arabia and Oman were options Sri Lanka was looking at. Sri Lanka has depended almost entirely on Iran for its crude oil supplies importing 93 %of its requirement from Iran with the country's only refinery at Sapugaskanda able to process only Iranian crude. However one official explained that Sri Lanka had started purchasing Saudi Arabian Light Oil instead of Iranian Light Oil.
Source: Sunday Times
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