| Lanka IOC, IndianOilâ€™s subsidiary in Sri Lanka, is the only private oil company other than the state-owned Ceylon Petroleum Corporation (CPC) that operates retail petrol / diesel stations in Sri Lanka. Lanka IOC is ranked no. 1 among the island nationâ€™s leading listed companies.
IndianOilâ€™s entry into Sri Lanka is in line with its Vision of becoming a transnational energy major. While expanding its market base to convert the surplus avails of petroleum products into more wealth for stakeholders, IndianOil is also committed to being a good strategic partner to Sri Lanka. Its vast experience in downstream petroleum operations in India is helping create a healthy and competitive petroleum industry in Sri Lanka for the larger benefit of the island nation. The surplus refining capacity in India is being used to bridge the existing gap between demand and supply in Sri Lanka. Lanka IOC intends to harness the advantages of geographical proximity between India and Sri Lanka, resulting in low freight rates in transportation and IndianOilâ€™s superior R&D capabilities, to provide petroleum products at the most competitive price to the Sri Lankan market.
Incorporated to carry out retail marketing of petroleum products and bulk supply to industrial consumers, Lanka IOC operates about 150 petrol & diesel stations in Sri Lanka, and has a very efficient lube marketing network. Its major facilities include an oil terminal at Trincomalee, Sri Lanka's largest petroleum storage facility and an 18,000 tonnes per annum capacity lubricants blending plant and state-of-the-art fuels and lubricants testing laboratory at Trincomalee. Lanka IOCâ€™s activities not only provide the island nation energy security and supply stability but also upgrade the overall standards of service, particularly in the retail sector. It took over 100 CPC-owned petrol/diesel stations in February 2003 and commenced retailing products to customers. Subsequently, it took over 59 dealer-owned franchisee retail outlets.
Presently, it holds a market share of about 43.5%. In a highly competitive bunker market, catering to all types of bunker fuels and lubricants at all ports of Sri Lanka, viz., Colombo, Trincomalee and Galle. It is the major supplier of lubricants and greases to the three arms of the Defence services of Sri Lanka. It has also introduced nitrogen filling facilities for automotive tyres, the first of its kind in Sri Lanka.
Lanka IOC is making phased investments to provide world-class quality petroleum products and services to the Sri Lankan customers. Through its retail chain, it is also making available non-fuel facilities like convenience stores, 24-hour ATMs, automatic carwash, food marts, etc. This will not only give value-for-money to the motorists but would give altogether a new refueling experience. The refurbished stations of Lanka IOC have brought praise from all sections of the Sri Lankan society.
Lanka IOC has also acquired the China Bay Tankfarm of World War II vintage, which is of historic and strategic significance as it is the largest tankfarm located between the Middle East and Singapore. The tankfarm connects to the Trincomalee harbour, which is the 5th largest all-weather, non-tidal natural harbour in the world, with a 56 km shoreline, making this tankfarm most effective for fuel receipt, storage and supply. The tankfarm, formerly owned and operated by CPC, has a total of 99 tanks, each with a capacity of 12,000 kilolitres. Currently, only 15 of these tanks are operational. Lanka IOC intends to develop the tankage on need basis, as the volume of its downstream marketing operations in Sri Lanka grows.
For more details, please visit https://www.lankaioc.com/