Wimal reveals black gold opportunity from Russia

By Saman indrajith

The Russian energy company that sent representatives to Sri Lanka recently had presented the government with an MoU, National Freedom Front (NFF) leader, Wimal Weerawansa said in Parliament on Wednesday.

If the Wickremesinghe administration was willing to sign the MoU, the Russians would supply fuel to Sri Lanka on credit, Weerawansa said.

“We can get crude oil from Russia about 10-15% discount below the market price. Discussions had been held with state officials, the Minister of Power and Energy and the Central Bank Governor and the Russians are willing to give us a 300 million dollar credit limit, each month,” Weerawansa said.

Sri Lanka can pay back the money within 12 months, he said. However, the Ceylon Petroleum Corporation (CPC) legal officer has been entrusted with investigating the company.

“They are giving us crude oil on credit. Do we really need to check the background of the company now? We already purchase fuel from companies with an awful reputation and they give us fuel after we make a payment. If we are ready to sign, we must sign an agreement with a Russian Bank. With this crude we can restart Sapugaskanda oil Refinery. We can come to a two year contract initially and extend the agreement later,” he said.