Question
The Sri Lankan government has extended the petroleum
products license granted to Lanka IOC, the Indian Oil Corporation subsidiary, for an additional period. What is the duration of the extension?Solution
The Sri Lankan government has extended for an additional 20 years the petroleum products licence that Lanka IOC, the Indian Oil Corporation subsidiary operating locally, was granted. The first 2003 permit was set to expire in January 2024. The government has extended the petroleum products licence given to Lanka IOC, the Indian Oil Corporation local subsidiary.
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