China’s Sinopec to Enter Retail Fuel Market in Crisis-hit Sri Lanka

China’s Sinopec to Enter Retail Fuel Market in Crisis-hit Sri Lanka

Advertisement Chinese petroleum giant Sinopec signed an agreement with Sri Lanka on Monday to enter the South Asian island country’s retail fuel market as it struggles to resolve a worsening energy crisis amid an unprecedented economic upheaval. The contract agreement would enable Sinopec to import, store, distribute, and sell petroleum products in Sri Lanka, which … Read more

China Strengthens Grip on Sri Lanka’s Colombo Port  

China Strengthens Grip on Sri Lanka’s Colombo Port  

Advertisement China is strengthening its grip on Colombo port after securing an agreement to build, operate, and transfer a warehousing hub within the port. The China Merchants Port Holdings Company (CMPH) will have an 85 percent stake in the warehouse facility and will operate it for 50 years. The Sri Lankan government assigned the $392 … Read more