United Petroleum Australia Pty Ltd has officially entered into a contract with the Ministry of Power and Energy to supply petroleum products in the Sri Lankan market, according to a statement released by the company.
This significant development follows the selection of United Petroleum Australia Pty Ltd based on a Request for Proposals (RFP) issued by the Sri Lankan government to further liberalize the country's retail petroleum sector earlier last year.
United Petroleum Australia Pty Ltd, a leading petroleum trading company in Australia, boasts ownership of over 500 fuel stations across the Australian sub-continent. While the company has diversified interests in Australia and Singapore, this marks its inaugural expansion into the retail petroleum business outside of Australia. With a focus on quality, safety, and environmental standards, United Petroleum Australia Pty Ltd aims to introduce benchmark practices to the Sri Lankan retail petroleum market and enhance the quality of products and services offered to customers.
To achieve these objectives, United Petroleum Australia Pty Ltd plans to upgrade and uplift the standards of the retail petroleum sector in Sri Lanka, emphasizing product quality and service excellence. The company has been assigned 150 existing fuel stations across the country and has been granted the right to construct 50 new fuel stations under its ownership. United Petroleum Australia Pty Ltd has established a local subsidiary, United Petroleum Lanka Pvt Ltd., to oversee its operations in Sri Lanka. Dr. Prabath Samarasinghe, a former Board Member of CEYPETCO and a respected professional in the petroleum industry, has been appointed as the Director and CEO of the company.
The contract signing ceremony, which solidified the agreement between United Petroleum Australia Pty Ltd and the Ministry of Power and Energy, was attended by Dr. Sulakshana Jayawardena, the Secretary of the Ministry of Power and Energy representing the Government of Sri Lanka, and Mr. Eddie Hirsch, the owner of United Petroleum Australia Pty Ltd.
