Hon. Kumara Jayakody - Minister of Energy

¶ 01 Hon. Speaker, the response to the Hon. Sajith Premadasa’s question under Standing Order 27(2) is as follows:

¶ 02 1. A daily risk analysis is conducted. Discussions are ongoing with suppliers to receive ordered cargoes in the contracted quantities on schedule.

¶ 03 2. Efforts are also underway to obtain oil through other suppliers.

¶ 04 3. The Government of Sri Lanka is already in discussions with oil-producing countries regarding potential supplies, and steps are being taken accordingly.

¶ 05 4. Proposals from non-registered suppliers are also being considered under a special mechanism approved by Cabinet, which has commenced.

¶ 06 Fuel inventory sufficiency: - Diesel: adequate until 12 April (under normal consumption) - Super Diesel: adequate until 10 May - Petrol 92: adequate until 23 April - Petrol 95: adequate until 10 May

¶ 07 Note that the current storage levels and confirmed vessel deliveries this month are factored into these figures.

¶ 08 There is no separate emergency petroleum stock; only the main depots’ inventories are used.

¶ 09 A committee has been appointed for emergency procurements to maintain continuity of supply.

¶ 10 Data on volumes and details have been provided to the Ministry of Finance. Impact assessments on import costs, the economy, and inflation are computed by the Ministry of Finance, using data supplied by us; hence we cannot directly provide those results.

¶ 11 Tenders have been called for crude grades WTI, Saharan Blend, and Miri Light. Bid opening is scheduled for today, the 17th.

¶ 12 On QR quotas: Yes, we accept that the current quotas are inadequate for daily needs. However, we will not revise the general quotas; adjustments are made on a scientific basis for special cases.

¶ 13 For the national prioritization mechanism: essential institutions have been called, listed, and assessed, and a committee is appointed to allocate required quotas accordingly.

¶ 14 Regarding Russian supplies: discussions are ongoing.

¶ 15 Regarding IEA stocks: we are taking necessary steps to access releases. However, even with oil available and sufficient dollars, there are logistical constraints: higher marine insurance, insurance refusals, and many vessels unwilling to sail. Practically, oil exists and we have funds, but ships are scarce. This is a global issue; we are managing dynamically, reviewing daily and adjusting decisions. We cannot forecast months ahead due to the ongoing war and external pressures. With proper management and cooperation, we will continue without prolonged power cuts, though costs may rise. We seek the Opposition’s support.

¶ 16 Thank you.