Lanka Indian Oil Corporation Assures Stability Amid West Asia Conflicts

Lanka Indian Oil Corporation assured the continued supply of fuel to Sri Lanka despite ongoing conflicts in West Asia, on the back of discussions between Sri Lanka's Foreign Minister Vijitha Herath and India's Dr. S. Jaishankar. LIOC’s Managing Director, K Raghu emphasized energy security is maintained through their efforts.

Lanka Indian Oil Corporation (LIOC) has pledged to maintain uninterrupted fuel supplies to Sri Lanka even amid ongoing West Asia conflicts. This assurance followed a discussion between Sri Lanka's Foreign Minister Vijitha Herath and Indian counterpart Dr. S. Jaishankar, aiming to secure the island nation's energy needs.

During an address to management students, LIOC's Managing Director K Raghu reassured the public, stating, "As the Managing Director of Lanka IOC, I want to assure everyone that you are in safe hands." Emphasizing the importance of a steady fuel supply, Raghu maintained that both companies and the government are doing their utmost to ensure energy security.

LIOC, which significantly aided Sri Lanka during the 2022 economic crisis, operates 200 fuel stations in the country, holding a 20% market share. Established in 2003, its contract has been renewed recently in 2023, continuing its vital role in Sri Lanka's energy sector.

(With inputs from agencies.)