Lanka IOC lines up supply

Lanka Indian Oil Corporation has called for vessels to supply lubricant base oil for its new 18,000-metric-ton-year blending plant in the east of Sri Lanka, which is to begin production in June. In January, the fuel retailer, a unit of Indian Oil Corp., received a government license to blend lubricants. The company has been importing the Servo brand of lubricants as packaged products since 2003, and currently has an estimated 16% of the lubricants market. Lanka Indian Oil also holds an estimated 32% of the retail fuel market, operating more than 150 fuel sheds around the island, alongside state-owned Ceylon Petroleum Corporation. (January 30, 2007)