Lanka IOC PLC is a subsidiary of Indian Oil Corporation which operates retail petrol and diesel stations in Sri Lanka. LIOC is Sri Lanka's only private sector organisation retailing fuels with an island-wide distribution network of 213 retail outlasts. Its headquarters in the Colombo City, Colombo.[3]
The company was incorporated in 2003 as LIOC. Indian parent company Indian Oil Company owned the majority of LIOC's stock, and N.K Nayyar served as its first chairman.[4] Before 2002, petroleum fuel retailing in the country was at the rudimentary level, limited to mere sales of auto fuel only. After the 2002 Sri Lankan Government's decision to liberalise the petroleum sector where the CPC will compete with the private sector. Indian Oil Corporation, will invest Rs. 10 billion (US$62 million for the first phase, US$38 million would be invested in the second phase) in Sri Lanka and will operate 100 fuel stations which it has purchased from the Ceylon Petroleum Corporation[5] In 2003, Sri Lankan Government give to 15 Trincomalee oil tanks, on a 35 years lease for an annual payment of US$100,000. In 2022 Sri Lankan cabinet approved to implementation of a development project by a company named Trinco Petroleum Terminal for the remaining 61 tanks, of which 51% will be owned by CEYPTCO and 49% by LIOC. Trincomalee oil tanks farm is estimated to be valued at US$500 million.[6] The event became known as the 2022 Sri Lankan economic crisis Sri Lanka has faced energy crisis. With no foreign exchange to pay for fuel, Sri Lanka Government was dependent on an Indian line of credit of US$700 million which expired in June. The LIOC to date was enjoying a 16% market share for petrol and diesel in the local market. For lubricants, bitumen and oil bunkering its market share is over 35%. The fuel shortfalls have also led to long lines at petrol and diesel stations over the past months. IOC supply is supported by an Indian Line of Credit of US$500 million.[7] In August 2022 Sri Lanka's Ministry of Power and Energy has authorised the establishment of 50 new fuel stations by Lanka IOC.[8]
lanka, subsidiary, indian, corporation, which, operates, retail, petrol, diesel, stations, lanka, lioc, lanka, only, private, sector, organisation, retailing, fuels, with, island, wide, distribution, network, retail, outlasts, headquarters, colombo, city, colo. Lanka IOC PLC is a subsidiary of Indian Oil Corporation which operates retail petrol and diesel stations in Sri Lanka LIOC is Sri Lanka s only private sector organisation retailing fuels with an island wide distribution network of 213 retail outlasts Its headquarters in the Colombo City Colombo 3 Lanka IOC PLCThe logo of Lanka IOCCompany typePublicTraded asCSE LIOC N0000ISINLK0345N00005IndustryEnergyFounded2002 22 years ago 2002 HeadquartersColombo Sri LankaKey peopleRanjan Kumar Mohapatra Chairman Manoj Gupta Managing Director ProductsFuelsLubricantsBitumenother petrochemicalsRevenueLKR281 49 billion FY 2022 23 1 Operating incomeLKR44 1 billion FY 2022 23 Net incomeLKR37 6 billion FY 2022 23 Total assetsLKR82 2 billion FY 2022 23 Total equityLKR61 2 billion FY 2022 23 OwnerIndian Oil Corporation Limited 75 12 J B Cocoshell Pvt Ltd 3 00 Ceybank Unit Trust 1 13 Number of employees159 FY 2022 23 ParentIndian Oil Corporation LimitedWebsitelankaioc wbr comFootnotes references 2 Contents 1 History 2 Listing and shareholding 3 Finances 4 References 5 External linksHistory editThe company was incorporated in 2003 as LIOC Indian parent company Indian Oil Company owned the majority of LIOC s stock and N K Nayyar served as its first chairman 4 Before 2002 petroleum fuel retailing in the country was at the rudimentary level limited to mere sales of auto fuel only After the 2002 Sri Lankan Government s decision to liberalise the petroleum sector where the CPC will compete with the private sector Indian Oil Corporation will invest Rs 10 billion US 62 million for the first phase US 38 million would be invested in the second phase in Sri Lanka and will operate 100 fuel stations which it has purchased from the Ceylon Petroleum Corporation 5 In 2003 Sri Lankan Government give to 15 Trincomalee oil tanks on a 35 years lease for an annual payment of US 100 000 In 2022 Sri Lankan cabinet approved to implementation of a development project by a company named Trinco Petroleum Terminal for the remaining 61 tanks of which 51 will be owned by CEYPTCO and 49 by LIOC Trincomalee oil tanks farm is estimated to be valued at US 500 million 6 The event became known as the 2022 Sri Lankan economic crisis Sri Lanka has faced energy crisis With no foreign exchange to pay for fuel Sri Lanka Government was dependent on an Indian line of credit of US 700 million which expired in June The LIOC to date was enjoying a 16 market share for petrol and diesel in the local market For lubricants bitumen and oil bunkering its market share is over 35 The fuel shortfalls have also led to long lines at petrol and diesel stations over the past months IOC supply is supported by an Indian Line of Credit of US 500 million 7 In August 2022 Sri Lanka s Ministry of Power and Energy has authorised the establishment of 50 new fuel stations by Lanka IOC 8 Listing and shareholding editLanka IOC s equity shares are listed on the Colombo Stock Exchange 9 Finances editYear Revenue mil LKR Net income mil LKR Total assets mil LKR Employees2003 1 306 78 2022004 14 533 588 2142005 27 586 2 331 2012006 37 493 1 18 2022007 32 796 636 1702008 10 44 173 2 516 23 959 1702009 47 617 1 104 20 453 1712010 11 50 214 397 17 423 1722011 51 743 893 18 988 1732012 60 436 930 22 122 1712013 75 111 2 909 24 700 1752014 81 793 4 813 26 984 1772015 12 79 901 1 886 23 541 1742016 71 307 2 239 25 068 1722017 81 039 3 065 25 494 1722018 13 91 343 744 32 959 1722019 86 322 403 28 245 1722020 81 947 422 39 760 1642021 66 686 883 46 407 1512022 89 951 4 818 65 070 153References edit Annual Report 2022 23 PDF www lankaioc com 29 July 2023 Annual Report 2020 21 PDF cse lk Lanka IOC PLC Retrieved 21 June 2022 LANKA IOC Lmd lk Retrieved 1 December 2017 Lanka IOC PLC IndianOil Overseas iocl com Retrieved 28 September 2022 TamilNet TamilNet www tamilnet com Retrieved 28 September 2022 Developing Trincomalee oil tank farm What the deal means for India Lanka The Indian Express 3 January 2022 Retrieved 28 September 2022 Sri Lanka Economic Crisis IOC Provides Fuel As Government Pumps Go Dry www outlookindia com 29 June 2022 Retrieved 28 September 2022 Lanka IOC to open 50 new filling stations Sri Lanka News Newsfirst 8 August 2022 Retrieved 28 September 2022 Lanka IOC PLC LIOC N0000 CSE summary FT com markets ft com Retrieved 28 September 2022 LIOC 2009 PDF LIOC annual report 2011 10 PDF ww lankaioc com LIOC 2015 PDF LIOC 2017 PDF External links editOfficial website nbsp This Sri Lankan corporation or company article is a stub You can help Wikipedia by expanding it vte Retrieved from https en wikipedia org w index php title Lanka IOC amp oldid 1200022144, wikipedia, wiki, book, books, library,
