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Trinco Oil Tank Farm -What happened to agreement with Indian oil company?

COPE says immediate steps should be taken to repeal the agreement to hand over the Trincomalee Oil Tank Farm. The Committee has recommended the agreement signed -with an Indian oil company- should be repealed since it is “invalid“.

Chairman of COPE says reports have been called for at a ministerial level regarding the matter.

The 2003 agreement

According to Handunnetti, the initial agreement was signed in 2003. In the agreement existed a clause which said ‘the tax agreement should be signed within six months’.

However –such an agreement had not been signed up to date.

Meanwhile, the AG Report on the Ceylon Petroleum Corporation’s oil tanks is set to be presented soon.

Following an inquiry by News 1st,.Auditor General Gamini Wijesinghe said “all steps will be taken to expedite the compilation of the report”. 

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