Sri Lanka has identified oil and gas deposits
Posted by Editor on July 16, 2021 - 5:06 am
Sri Lanka has identified oil and gas deposits currently valued at US$ 240 billion, Energy Minister Udaya Gammanpila said.
The Minister told Daily Mirror that Sri Lanka could well tide over the issue related to its foreign debt sustainability if it harnessed the full potential of these offshore oil and gas resources.
“Our foreign debt amount is around US $ 45 billion. But, we have oil and gas deposits valued at US$ 240 billion,” he said. He also said the new piece of legislation which, if enacted by Parliament, would provide for the upstream of the oil and gas industry, would be presented to the Cabinet next Monday for approval.
(Source: Daily Mirror – By Kelum Bandara)
Latest Headlines in Sri Lanka
- “Siri Dalada Wandanawa” begins today in Kandy after 16 years April 18, 2025
- Sri Lanka’s Defence Secretary orders tight security for Easter Sunday church services April 18, 2025
- Sri Lanka’s Ministry of Industry shares first quarter progress report April 17, 2025
- Gold prices in Sri Lanka hit record highs amid global surge April 17, 2025
- Sri Lanka to extend Aswesuma welfare benefits to 400,000 additional families April 17, 2025
Mate,
The oil and gas deposits will not help you.
The rulers will say thank you and grab the wealth.
The NCM is coming on the 19th July; please resign and exit in a dignified manner.