Sinopec Group is the largest oil and petrochemical products suppliers and the second largest oil and gas producer in China, the largest refining company and the third largest chemical company in the world has incorporated a company in Sri Lanka, Sinopec Fuel Oil Lanka (Private) Ltd. And has already applied under BOI section 17 as Hub Operation and apply for the bunkering license to carry out bunkering (marine fuels supply) business at Hambantota Port beginning Q4 2019. Moreover this company intends to invest in an Oil Refinery also in Hambantota. This was revealed by the Sinopec Company’s Executive Director Li Zurong when his delegation met Sri Lankan Ambassador Dr. Karunasena Kodituwakku to discuss company’s investment in Sri Lanka.
Sinopec Fuel Oil Sales Co., Ltd. (SFO) is a Sinopec Group wholly-owned subsidiary which integrates fuel oil sales business. It headquarters in Beijing with 8 branches and 2 subsidiaries in China and Singapore. The SFO Company’s total number of gas stations ranks the second place in the world. Sinopec Group ranked the 3rd on Fortune's Global 500 List in 2018.
Sri Lanka Ambassador Dr. Karunasena Kodithuwakku, Deputy Chief of Mission K. Yogannathan and Minister Commercial Alexi Gunasekera recently met with the Executive Director and other officials of Sinopec Fuel Oil in Beijing and proposed to start a Oil Refinery in Hambantota soon that will create more Employment Opportunities to Sri Lanka and also strengthen Sri Lanka’s vision to achieve logistic Hub of South Asia.
