Sri Lanka opens market

Sri Lanka has allowed six more firms from India, France, China and the Middle East, to market lubricants locally, with three others were given provisional approval. Last July, the government opened its lubricant market, calling for bids from interested investors to blend lubricants locally or import and sell packed products. Five firms, Bharat Petroleum (India), Gulf Oil International, Motul (France), Total S.A. (France) and Sinopec (China) have been allowed to trade and distribute lubricants. Lanka Indian Oil Corporation has also been allowed to start a lube blending plant in Sri Lanka, ending a monopoly by Caltex Lubricants. Laugfs, a local petroleum retailer, who is already in the LPG business in Sri Lanka, has been given provisional approval subject to completion of additional requirements. Toyota Tsushu Corporation and Waxpol International Industries were also given provisional approval subject to completion of remaining requirements. (January 25, 2007)