Lanka IOC Assures Continued Fuel Supply to Sri Lanka Amid Middle East Conflict
Lanka Indian Oil Corporation Reaffirms Energy Security Commitment
Colombo, March 14: Lanka Indian Oil Corporation (LIOC), the Sri Lankan subsidiary of Indian Oil Corporation, has assured uninterrupted fuel supplies to the island nation despite the ongoing conflict in the Middle East.The assurance was given by K Raghu, Managing Director of LIOC, during an address to a gathering of management students in Colombo on Saturday.
“As the Managing Director of Lanka IOC, I want to assure everyone that you are all in safe hands,” Raghu said while emphasizing the company’s commitment to maintaining energy stability in Sri Lanka.
Coordination Between Sri Lanka and India on Energy Supply
The statement from LIOC follows remarks by Sri Lanka’s Foreign Minister Vijitha Herath, who expressed confidence that discussions with India would help sustain energy supply chains for island nations.Herath had raised the issue during his official visit to India on March 6, where he held talks with India’s External Affairs Minister Dr. S. Jaishankar regarding the continuity of energy supplies.
Commitment to Maintain Fuel Availability
Raghu acknowledged that the global situation remains uncertain but reiterated that both companies and governments are working to ensure stability in fuel supplies.“I will not say that the situation is very rosy, but I will definitely assure you that you are all in safe hands,” he said, adding that every effort is being made to maintain reliable energy availability.
He also stated that LIOC will continue supporting Sri Lanka’s development and economic progress.
LIOC’s Role in Sri Lanka’s Fuel Market
Lanka IOC operates 200 fuel stations across Sri Lanka and holds about 20 percent of the country’s fuel retail market.The company first began operations in Sri Lanka in 2003 under a 20 year agreement. The contract was renewed in 2023, allowing the company to continue its presence in the island nation’s energy sector.
LIOC had also played a key role during Sri Lanka’s economic crisis in mid 2022, when fuel shortages forced people to wait in long queues at fuel stations across the country.
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