{"id":24145,"date":"2021-02-18T16:47:41","date_gmt":"2021-02-18T15:47:41","guid":{"rendered":"https:\/\/www.stocexpo.com\/?p=24145"},"modified":"2021-02-18T16:48:35","modified_gmt":"2021-02-18T15:48:35","slug":"sri-lanka-to-re-acquire-99-oil-tanks-leased-to-indian-oil-minister","status":"publish","type":"post","link":"https:\/\/www.stocexpo.com\/en\/2021\/02\/18\/sri-lanka-to-re-acquire-99-oil-tanks-leased-to-indian-oil-minister\/","title":{"rendered":"Sri Lanka To Re-Acquire 99 Oil Tanks Leased To Indian Oil: Minister"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"24145\" class=\"elementor elementor-24145\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-d73fcfa elementor-section-stretched elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"d73fcfa\" data-element_type=\"section\" data-settings=\"{&quot;stretch_section&quot;:&quot;section-stretched&quot;,&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-31a66287\" data-id=\"31a66287\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-11d5ab4b elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"11d5ab4b\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-5858ddde\" data-id=\"5858ddde\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-7ffa221b elementor-widget elementor-widget-theme-post-title elementor-page-title elementor-widget-heading\" data-id=\"7ffa221b\" data-element_type=\"widget\" data-widget_type=\"theme-post-title.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h1 class=\"elementor-heading-title elementor-size-default\">Sri Lanka To Re-Acquire 99 Oil Tanks Leased To Indian Oil: Minister<\/h1>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-464db08e elementor-align-left elementor-widget elementor-widget-post-info\" data-id=\"464db08e\" data-element_type=\"widget\" data-widget_type=\"post-info.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<ul class=\"elementor-inline-items elementor-icon-list-items elementor-post-info\">\n\t\t\t\t\t\t\t\t<li class=\"elementor-icon-list-item elementor-repeater-item-7a16641 elementor-inline-item\" itemprop=\"datePublished\">\n\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-icon\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-icon-list-text elementor-post-info__item elementor-post-info__item--type-date\">\n\t\t\t\t\t\t\t\t\t\t<time>18\/02\/2021<\/time>\t\t\t\t\t<\/span>\n\t\t\t\t\t\t\t\t<\/li>\n\t\t\t\t<\/ul>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-59f89fbb elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"59f89fbb\" data-element_type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-163056b9 elementor-widget elementor-widget-text-editor\" data-id=\"163056b9\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Sri Lanka will re-acquire the World War II-era oil storage tanks leased out to Indian Oil Corporation in the eastern port district of Trincomalee, Energy Minister Udaya Gammanpila has said.<br \/>It is the second deal with India to be scrapped by Sri Lanka this year. Last month, the Sri Lankan government scrapped the trilateral deal with India and Japan to develop the Colombo Port&#8217;s Eastern Container Terminal (ECT).<\/p><p>Gammanpila told a gathering at the Colombo north suburb of Kolonnawa that talks with the Indian High Commissioner in Colombo on this issue concluded last Sunday.<\/p><p>&#8220;I am happy to state that the Indian High Commissioner was very flexible at the talks. He ignored the conditions mentioned in the agreement signed in 2017 in order to be helpful to us,&#8221; Gammanpila said, referring to his discussions with High Commissioner Gopal Baglay.<\/p><p>&#8220;He was flexible to agree to all our conditions. A majority of ships which sail around Trincomalee are from India. So we need India&#8217;s cooperation to win their market,&#8221; he said.<\/p><p>&#8220;I am proud to announce that the oil tanks the use of which had been denied to us since 2003 will be soon ours,&#8221; Gammanpila said.<\/p><p>The Trincomalee Harbour is one of the deepest natural harbours in the world. It was developed by the British during World War II.<\/p><p>Sri Lanka in 2003 had leased out 99 oil tanks to the IOC for 30 years for an annual payment of USD 100,000. The IOC was also given one third share of the Sri Lankan government entity, Petroleum Stirage Limited. However, the Ceylon Petroleum Corporation (CPC) trade unions had been pressing for the takeover of the tanks.<\/p><p>Initially, the CPC wanted to develop 25 of the tanks by investing USD 25-30 million. The CPC maintains that it will allow them to strengthen their oil storage and distribution in the north and eastern provinces while allowing stock maintenance to suffice 2-3 months.<\/p><p>Last month, the Mahinda Rajapaksa government said it has decided to run the Colombo Port&#8217;s Eastern Container Terminal as a fully-owned operation of the State-run ports authority.<\/p><p>India, Japan and Sri Lanka had signed a pact in 2019 on development of the terminal project.<\/p><p>The Colombo port trade unions opposed the proposal of investors from India and Japan buying 49 per cent stake in the ECT. They demanded the ECT to remain 100 per cent owned by the SLPA as opposed to the 51 per cent.<\/p><p>India expressed regret over the cancellation of the deal and asked Sri Lanka to abide by its commitment to the trilateral deal with it and Japan.<\/p><p>Japan has also conveyed its unhappiness with the Sri Lankan government over the cancellation of the deal.<\/p><p>Source: <a href=\"https:\/\/www.ndtv.com\/\">NDTV<\/a><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-563edf59\" data-id=\"563edf59\" data-element_type=\"column\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t<div class=\"elementor-background-overlay\"><\/div>\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-63502443 elementor-widget 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elementor-repeater-item-6550970\" href=\"https:\/\/twitter.com\/StocExpo\" target=\"_blank\">\n\t\t\t\t\t\t<span class=\"elementor-screen-only\">Twitter<\/span>\n\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"fab fa-twitter\"><\/i>\t\t\t\t\t<\/a>\n\t\t\t\t<\/span>\n\t\t\t\t\t\t\t<span class=\"elementor-grid-item\" role=\"listitem\">\n\t\t\t\t\t<a class=\"elementor-icon elementor-social-icon elementor-social-icon-facebook-f elementor-animation-push elementor-repeater-item-2ea5aad\" href=\"https:\/\/www.facebook.com\/StocExpo\/\" target=\"_blank\">\n\t\t\t\t\t\t<span class=\"elementor-screen-only\">Facebook-f<\/span>\n\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"fab fa-facebook-f\"><\/i>\t\t\t\t\t<\/a>\n\t\t\t\t<\/span>\n\t\t\t\t\t\t\t<span class=\"elementor-grid-item\" role=\"listitem\">\n\t\t\t\t\t<a class=\"elementor-icon elementor-social-icon elementor-social-icon-linkedin-in elementor-animation-push elementor-repeater-item-f5eda18\" href=\"https:\/\/www.linkedin.com\/showcase\/stocexpo-&#038;-tank-storage\/\" target=\"_blank\">\n\t\t\t\t\t\t<span class=\"elementor-screen-only\">Linkedin-in<\/span>\n\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"fab fa-linkedin-in\"><\/i>\t\t\t\t\t<\/a>\n\t\t\t\t<\/span>\n\t\t\t\t\t\t\t<span class=\"elementor-grid-item\" role=\"listitem\">\n\t\t\t\t\t<a class=\"elementor-icon elementor-social-icon elementor-social-icon-instagram elementor-animation-push elementor-repeater-item-b98d648\" href=\"https:\/\/www.instagram.com\/stocexpo_tankstorage_events\/\" target=\"_blank\">\n\t\t\t\t\t\t<span class=\"elementor-screen-only\">Instagram<\/span>\n\t\t\t\t\t\t<i aria-hidden=\"true\" class=\"fab fa-instagram\"><\/i>\t\t\t\t\t<\/a>\n\t\t\t\t<\/span>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Sri Lanka will re-acquire the World War II-era oil storage tanks leased out to Indian Oil Corporation in the eastern port district of Trincomalee, Energy Minister Udaya Gammanpila has said.It is the second deal with India to be scrapped by Sri Lanka this year. Last month, the Sri Lankan government scrapped the trilateral deal with [&hellip;]<\/p>\n","protected":false},"author":85,"featured_media":20137,"comment_status":"open","ping_status":"open","sticky":false,"template":"elementor_header_footer","format":"standard","meta":{"_seopress_robots_primary_cat":"none","_seopress_titles_title":"Sri Lanka To Re-Acquire 99 Oil Tanks Leased To Indian Oil: Minister | StocExpo ","_seopress_titles_desc":"Sri Lanka To Re-Acquire 99 Oil Tanks Leased To Indian Oil: Minister. Find out more here, and catch-up with the latest industry news with StocExpo.","_seopress_robots_index":"","footnotes":""},"categories":[322,268],"tags":[],"edition":[],"class_list":["post-24145","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-homepage","category-in-the-news"],"_links":{"self":[{"href":"https:\/\/www.stocexpo.com\/en\/wp-json\/wp\/v2\/posts\/24145","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.stocexpo.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.stocexpo.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.stocexpo.com\/en\/wp-json\/wp\/v2\/users\/85"}],"replies":[{"embeddable":true,"href":"https:\/\/www.stocexpo.com\/en\/wp-json\/wp\/v2\/comments?post=24145"}],"version-history":[{"count":0,"href":"https:\/\/www.stocexpo.com\/en\/wp-json\/wp\/v2\/posts\/24145\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.stocexpo.com\/en\/wp-json\/wp\/v2\/media\/20137"}],"wp:attachment":[{"href":"https:\/\/www.stocexpo.com\/en\/wp-json\/wp\/v2\/media?parent=24145"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.stocexpo.com\/en\/wp-json\/wp\/v2\/categories?post=24145"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.stocexpo.com\/en\/wp-json\/wp\/v2\/tags?post=24145"},{"taxonomy":"edition","embeddable":true,"href":"https:\/\/www.stocexpo.com\/en\/wp-json\/wp\/v2\/edition?post=24145"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}