LIOC License renewed for 20 years

Lanka IOC PLC has been granted the renewal of the Petroleum Products License for a period of 20 years with effect from January 22, 2024 a posting in the Colombo Stock Exchange said.

After privatisation of the petroleum sector several decades ago, LIOC, the Indian base company was the first petroleum operator to be given licences to launch services in Sri Lanka. They also have storage and refined facilities in Trincomalee.

The company also revolutionized the local petroleum industry by introducing fuel stations with high quality standards and uplifting the standard of the local petroleum industry.

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