Cabinet approves Fuel deal with Vitol Asia for 92 Octane petrol

The procurement process, which was carried out through a competitive bidding process by the Ceylon Petroleum Corporation (CPC), ensures the delivery of high-quality fuel to meet the country's energy demands.

Under the terms of the contract, approximately 300,000 barrels of petrol (+/- 5%) will be delivered per shipment over a six-month period, from April 15 to October 14, 2025. The procurement process saw participation from seven registered suppliers, with Vitol Asia emerging as the lowest substantially responsive bidder.

The decision to select Vitol Asia was based on recommendations from both the Standing Procurement Committee and the Special Standing Procurement Committee appointed by the Cabinet. Their thorough evaluation determined Vitol Asia's bid as the most cost-effective and compliant, ensuring value for money for the government and the public.

This procurement is part of ongoing efforts to secure a stable supply of essential fuel and meet the nation's increasing energy requirements. The CPC is expected to monitor the timely and efficient delivery of the shipments throughout the contract period.