Colombo, Aug 31: The Indian Oil Company is at loggerheads with Sri Lanka's Petroleum Coorporation over the acquisition of 100 retail pumping station in the island, media reports said here said today.
IOC had already taken over 100 pumping stations from the CPC under a privatisation deal last year, but were yet to pay for them.
It said both parties had failed to agree on a price, but negotiations were continuing.
The government was keen to conclude the transaction with IOC as it was opening the retail fuel market to a third player, officials said. Currently only IOC and CPC can sell motor vehicle fuel in the island. Bureau Report