United States Virginia change
Sri Lanka Breaking News
Sri Lanka parliament
vivalankaSri Lanka newsSri Lanka businessSri Lanka sportsSri Lanka technologySri Lanka travelSri Lanka videosSri Lanka eventssinhala newstamil newsSri Lanka business directory
vivalanka advertising
Stay Connected
Popular Searches
T20 World Cup
Sponsored Links
Sri Lanka Explorer

Shell Gas is now a Government entity

Nov 3, 2010 10:11:40 AM - itnnews.lk

The Government takes over the Shell Gas Company. The agreement for the purchase of liquefied petroleum gas distribution operations of Royal Dutch Shell was inked today.

Under the agreement inked today, Sri Lanka will buy a 51 percent stake in Shell Gas Lanka, which is a distributor in which the Government already has 49 percent stake and a 100 percent stake in a storage terminal company. Prime Minister’s Secretary Sirisena Amarasekara, who heads the State Committee on the deal said that accordingly, the Government enjoys 100 percent of the shares. It is after 15 years that Shell Gas has become a fully Government owned Company. Plans are afoot to issue gas to the market from the 15th of this month under the name “Lithro” The Government is confident of granting more relief to the public with the acquisition of the Company.