Cabinet Spokesman and Minister Dr. Nalinda Jayatissa yesterday said that the Cabinet of Ministers had approved a proposal to award a long-term contract to Singapore-based BB Energy Asia Ltd. for the supply of four shipments of Murban crude oil to Sri Lanka.
The decision follows a competitive bidding process conducted by the Ceylon Petroleum Corporation (CPC) for registered suppliers under two payment options, immediate release from stocked tanks and payment within 30 days via a letter of credit issued by the Bank of Ceylon.
The contract covers deliveries over a four-month period from 1 January to 30 April 2026.
According to Cabinet Spokesman Dr. Jayatissa, the Cabinet approved the award based on recommendations from the Cabinet-Appointed Special Standing Procurement Committee, which evaluated six bids before selecting BB Energy Asia as the successful supplier.