PetroVietnam sells petroleum products to Sri Lanka

PetroVietnam (PVN) is selling petroleum products to Sri Lanka, under an agreement signed between the two countries during a visit by Vietnam’s President Truong Tan Sang. A deal was also signed during the visit for an exploration block in Sri Lanka, to be discussed with a technical team, which is due to arrive in the country.
Sri Lanka’s Petroleum Minister Susil Premajayantha said that under a term contract, the sale is below market prices, and that the purchase is on a three-month credit basis. Sri Lanka also entered a deal in the previous year to buy diesel fuel from PetroVietnam’s Singapore-based trading arm. (December 26, 2012)