President orders CPC to sell 50% of LPG

PRESIDENT Mahinda Rajapaksa has given directions to the officials of the Ministry of Petroleum Industries to instruct the Ceylon Petroleum Corporation (CPC) to supply 50% of the entire LP gas output of the refinery to LAUGFS Gas PLC with immediate effect. LAUGFS Gas had an exclusive arrangement with CPC to purchase the entire LPG production from the time it entered into the LP Gas market. However, when the Government took over Shell Gas Lanka Ltd. and named it Litro Gas Lanka Ltd., CPC unilaterally decided to split the production on the basis of market share, giving 70% to Litro Gas Lanka and 30% to LAUGFS Gas…