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Wednesday, April 6, 2011

Laugfs gets equal share of LP gas from CPC

President Mahinda Rajapaksa has directed Petroleum Industries Ministry officials to instruct the Ceylon Petroleum Corporation to supply 50 percent of the entire LP Gas output of the refinery to Laugfs Gas PLC with immediate effect, a company media release said.

Laugfs Gas PLC had an exclusive arrangement with the Ceylon Petroleum Corporation to purchase the entire LPG production from the time they entered the LP Gas market. However, when the government took over the Shell Gas Lanka Ltd and named it as Litro Gas Lanka Ltd, the Ceylon Petroleum Corporation unilaterally decided to split the production on the basis of market share giving 70 percent to Litro Gas Lanka Ltd and 30 percent to Laugfs Gas PLC.

The President while instructing the high officials to ignore the market share basis assured Laugfs 50 percent of the LP Gas production according to the President's mission to safeguard and protect local industries, the company said.

This decision was sequel to a meeting held at Temple Trees with officials on Monday.

source - www.dailynews.lk