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About Lanka IOC
Lanka IOC - Serving the Emerald Isle
Lanka IOC Limited (LIOC), is a subsidiary of Indian Oil Corporation Ltd in Sri Lanka, which is the only public oil company other than the state-owned Ceylon Petroleum Corporation (CPC) that operates retail petrol stations in Sri Lanka. It has been incorporated to carry out retail marketing of petroleum products, bulk supply to industrial consumers, building and operating storage facilities at the Trincomalee Tank farm, etc., thereby not only providing energy security and supply stability for Sri Lanka but also providing world class standards of service, particularly in the retail sector in the Emerald Island. LIOC is committed in serving the discerning customers of Sri Lanka.
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LIOC holds one third share in Ceylon Petroleum Storage Terminals Ltd, the Common User Facility in Sri Lanka for storage and distribution of petroleum products. LIOC is making phased investments to provide world-class quality petroleum products and services to delight the Sri Lankan customers. With IndianOil’s vast experience in downstream petroleum operations, LIOC is in the process of creating a healthy and competitive petroleum industry in Sri Lanka for the larger benefit of the island nation.
At present, the Sri Lankan petroleum market, with a demand of around 3.7 million metric tonnes per annum (MMTPA) and a refining capacity of 2.2 MMTPA, meets the shortfall in supply through imports of about 1.5 million tonnes of products. Presently Ceylon Petroleum Corporation is the major player in the petroleum sector with a widespread network of around 900 retail outlets in the country. LIOC took over 100 CPC-owned petrol/diesel stations in February 2003 and commenced retailing products to customers. LIOC also operates
around 50 dealer owned franchaisee retail outlets and is in the process of further expansion. The outlets have been refurbished with world-class, state-of-the-art facilities and services at par with international standards. LIOC, through its retail chain, is also making available non-fuel facilities like Convenience stores, 24-hour ATMs, automatic carwash, food marts, etc. This has not only given value-for-money to the motorists but an altogether a new refueling experience.
The China Bay Tank farm, of World War II vintage, is of historic and strategic significance, being the largest tank farm located between the Middle East and Singapore. The tank farm 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 tank farm most effective for fuel receipt, storage and supply. The tank farm, formerly 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. LIOC has invested significantly in developing the tankage and have drawn ambitious plans to make Trincomalee an important industrial site. The construction of lube blending plant within the premises of Oil Tank Farm at China Bay, which is in progress, is among the many plans identified for Trincomalee.
LIOC aims to become a good strategic partner for Sri Lanka, taking a long term investment view, while being sensitive to socio economic conditions. The pace and progress of Lanka IOC’s achievements in the short time since its incorporation in August 2002 is a clear indication of the company’s long-term commitment for revolutionizing the petroleum sector in Sri Lanka. These positive impacts will be echoed in the times ahead, to make a qualitative difference to the lives of Sri Lankans in all walks of life.
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