Sri Lanka signs oil deal with Oman

In a bid to offset the reliance on crude oil from Iran in the face of American sanctions against that country, Sri Lanka has reached an agreement with Oman for future purchases, the Petroleum Ministry said.

It said that to give effect to this agreement, a Memorandum of Understating was signed between Oman Oil Company and the Petroleum Industries Ministry on Thursday.

Oman Oil Company Chairman Nasser Al Jashmi and Ceylon Petroleum Corporation Chairman Dayananda Vidanagamachchi sign-

To give effect to this agreement, a Memorandum of Understating was signed between Oman Oil Company and the Petroleum Industries Ministry on Thursday

ed the MOU at the ministry office.

The ministry said this was the first step towards expanding trade relations between the two countries with the aim of purchasing crude oil and other petroleum products. Sri Lankan officials will visit Oman soon to work out the logistics involved. The ministry said the Sri Lankan government was doing its best to explore alternative sources for the purchase of stocks of petroleum and crude oil required by the country.

Petroleum Industries Minister Susil Premajayantha had earlier held discussions with Oman’s Oil and Gas Minister Mohamed Bin Hamad Al-ruhmi when he visited Sri Lanka in January to reach a greater understanding on crude oil and petroleum purchases from Oman. Subsequently Minister Premajayantha visited Oman.