Sri Lanka imports crude oil as well as refined oils from different countries. 30% of the country’s total fuel requirement was refined domestically. after Iran hit US sanctions of exporting crude oil to other countries, Sri Lanka imports a major portion of crude oil from Murban crude from Abu Dhabi National Oil in the United Arab Emirates. But Murban crude is costly as it is difficult to buy on a government-to-government basis since Sri Lanka’s volumes are small. Sri Lanka imports refined fuel oils from Singapore and various other countries.
How quickly Sri Lanka can adjust the domestic fuel prices inline with volatile global crude oil prices
EnergyMar 11, 2020