US-based energy giant enters Sri Lanka to operate 200 fuel stations

Shell PLC is a partner of the US$ 110 million venture

They will operate 150 existing CPC franchises

Mandated to build 50 new fuel stations

The US-based fuel distribution company RM Parks (California) yesterday signed an agreement with the BOI for a venture worth USD 110 million to operate 200 fuel stations in Sri Lanka in collaboration with Shell PLC.

The company will engage in the business of the development of infrastructure relating to petroleum by establishing, conducting, and operating 150 franchise fuel stations owned by Ceylon Petroleum Corporation (CPC) and build 50 new fuel stations as per the long-term contract entered into with the Ministry of Power and Energy.

Accordingly, the company will import, store, distribute and sell petroleum products including petrol, diesel, jet A-1, furnace oil and value-added products. It will expand its business to distribution of other petroleum /gas products, by-products including aviation fuel and EV charging. They will also provide services such as car wash, car service, department stores/ convenience stores, internet cafes, ATM, food courts etc. for the local market.

Shell PLC operates as an energy and petrochemical company in Europe, Asia, Oceania, Africa, the United States, and rest of the Americas. The company operates through integrated gas, upstream, marketing, chemicals and other products and renewable energy solutions segments. It explores and extracts crude oil, natural gas and natural gas liquids. It markets and transports oil and gas, produces gas-to-liquid fuels and other products. It also operates upstream and midstream infrastructure necessary to deliver gas to main markets.

The company also markets and trades natural gas, liquefied natural gas (LNG), crude oil, electricity and carbon-emission rights; markets and sells LNG as a fuel for heavy-duty vehicles and marine vessels. In addition, it trades in and refines crude oil and other feed-stocks such as low-carbon fuels, lubricants, bitumen, sulphur, gasoline, diesel, heating oil, aviation fuel and marine fuel. It deals in petrochemicals used by the industrial sector. Further, it generates electricity through wind and solar resources; produces and sells hydrogen and provides electric vehicle charging services as well as electricity storage.

The company was formerly known as Royal Dutch Shell PLC and changed its name to Shell PLC in January 2022. Shell PLC was founded in 1907 and is headquartered in London, the United Kingdom.

RM Parks Inc. has more than 50-years of experience in the petrochemicals distribution industry.