US enters Sri Lanka’s petroleum market

RM Parks will be the 4th supplier to enter the domestic market and they will operate under the Shell branding

The government has signed an agreement with United States based RM Parks Inc. in collaboration with Shell PLC for a long-term contract to enter the Sri Lanka petroleum business yesterday.

The contract agreement was signed at the Presidential Secretariat for the importation, storage, distribution and sale of petroleum products in Sri Lanka.

The agreement was signed following the recommendations of the Cabinet appointed Special Committee.

Power and Energy Minister Kanchana Wijesekera said RM Parks will be the 4th supplier to enter the domestic market and they will operate under the Shell branding.

They signed a 20-year agreement to import, distribute & sell petroleum products through 150 fuel stations allocated from Ceylon Petroleum Corporation (CPC).

The Minister said approval was also granted for 50 new fuel stations to be established islandwide.

They will upgrade the fuel stations with new automated dispensers, electric charge stations, mini markets and cafes, he said.