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Who We Are
About Company
Ceylon Petroleum Storage Terminal Limited is a company duly incorporated under the Companies Act No. 17 of 1982, in terms of Section 2(1) of the Conversion of Public Corporations or Government Owned Business Undertakings into Public Companies Act No. 23 of 1987. It owns the Common User Facility (CUF) consisting of oil terminals, storage facilities, pipelines, and the bowser fleet, more fully described in the Government Gazette Extraordinary bearing No. 1310-8 dated 13th October 2003.
What We Do
Our Business
We are a company engaged in bulk petroleum storage and distribution activities, with state-of-the-art infrastructure facilities for the management of downstream product handling in Sri Lanka. We serve around one thousand retail outlets island-wide, owned by Ceylon Petroleum Corporation and Lanka Indian Oil Corporation, to meet the energy demand of retail consumers as well as the large number of bulk consumers across various industrial sectors involved in the country's economic development.
Two main installations, supported by 11 bulk depots, form the storage and distribution network, with around 3,000 employees actively participating in the company's various activities.
Since 1961
History
In 1961, the Government of Sri Lanka, under the Ceylon Petroleum Corporation Act No. 28 of 1961, established the Petroleum Corporation with the general objective of carrying on business as an importer, exporter, seller, supplier, or distributor of petroleum; exploring for, exploiting, producing, and refining petroleum; and carrying on any business incidental or conducive to those objectives.
The corporation entered the business of importing and marketing petroleum products in April 1962, in competition with Shell, Esso, and Caltex, who were operating in the country at the time. As these companies were unable to import products at cheaper prices, the corporation, by government decision, took over the business of import and internal distribution of oil in 1964.
To ensure regular supplies and conserve foreign exchange, the corporation built a refinery in 1968 at a cost of Rs. 175 million, commencing production in 1969. Another important project completed the same year was the Lubricating Oil Blending Plant, which was privatised in December 1992 and is now owned and operated by Lanka Lubricants Limited.
In 1971 and 1972, the exclusive right to import, export, sell, supply, or distribute petroleum of any class was vested in the corporation. Bunkering business is now carried out by Lanka Marine Services (Pvt) Ltd, owned by the Ceylon Petroleum Corporation. The corporation also entered the agro-chemical business in 1969, competing with the private sector to market agro-chemical products at reasonable prices.
The Government of Sri Lanka decided to liberalise the petroleum sector in 2003, inviting the Government of India to enter downstream retail marketing of petroleum by offering the China Bay tank farm on long lease. Liberalisation limited marketing companies to three for an initial period of five years, and led to the formation of the Common User Facility company, Ceylon Petroleum Storage Terminals Limited (CPSTL), to manage the storage and distribution infrastructure of CPC — comprising the Kolonnawa and Muthurajawela installations and all island-wide bulk depots.
Vision
Where We're Headed
To be the most efficient petroleum terminal operator in South Asia.
Mission
How We Get There
To remain the most efficient terminal operator in South Asia, meeting stakeholders' expectations and committed to making perceivable and continual improvement in the level of customer satisfaction — while preserving quality and ensuring the exact quantity of petroleum products delivered to terminal facility users and customers, honouring health, environmental, and safety standards in force through the dedicated participation of a loyal, contented, and well-trained workforce, guided by the feedback of customers and the general public.