On the morning of May 22, 2023, under the witness of President Wickremesinghe of Sri Lanka, Yang Junze, Executive Director of SINOPEC Fuel Oil Company, and Patilana, Permanent Secretary of Sri Lankan Power and Energy, signed a contract at the Presidential Palace of Sri Lanka to carry out the import and storage of petroleum products by SINOPEC , distribution and sales of 20-year long-term contracts, SINOPEC formally obtained the franchising rights of 150 existing gas stations in Sri Lanka and the development rights of 50 new gas stations in the future.

Qi Zhenhong, Chinese ambassador to Sri Lanka, Yu Baocai, deputy general manager of SINOPEC and president of the joint-stock company, Ratnayake, chief of staff of the Sri Lankan presidential palace and national security adviser to the president, Vijay Sekra, minister of power and energy, Chanaka, minister of state Herat, Minister of State for Finance Semasinghe, Central Bank Governor Velasinghe and others witnessed the signing.

After the signing ceremony, the Presidential Office of Sri Lanka immediately released a news statement: The signing of this agreement with SINOPEC is an important measure for Sri Lanka to meet the challenges of fuel supply, and it marks a key step taken by the Sri Lankan government to ensure a stable and uninterrupted fuel supply in the country.

Before the signing ceremony, Ambassador Qi Zhenhong held talks with Yu Baocai and his party at the embassy. The two sides exchanged views on the current political and economic situation in Sri Lanka and the prospect of SINOPEC's business development in Sri Lanka. Li Guangjun, Economic and Commercial Counselor of the Embassy participated in the above activities.

A few days ago, the Sri Lankan cabinet announced that SINOPEC has been approved to enter the refined oil retail market in Sri Lanka. Sri Lankan Energy Minister Vijay Sekra said: The Sri Lankan Energy Commission and relevant procurement committees have approved and recommended granting operating licenses to three companies including SINOPEC, the other two companies are United Petroleum of Australia and RM Parks of the United States.Editor/Ma Xue