{"id":2756,"date":"2024-06-13T23:56:45","date_gmt":"2024-06-13T23:56:45","guid":{"rendered":"https:\/\/exam.pscnotes.com\/current-affairs\/?p=2756"},"modified":"2024-06-13T23:56:45","modified_gmt":"2024-06-13T23:56:45","slug":"sri-lanka-india-oil-deal","status":"publish","type":"post","link":"https:\/\/exam.pscnotes.com\/current-affairs\/sri-lanka-india-oil-deal\/","title":{"rendered":"Sri Lanka India Oil Deal"},"content":{"rendered":"<p>The Sri Lankan Government signed an agreement with the Lanka Indian Oil Corporation (LIOC). According to the agreement, Sri Lanka will lease oil tanks to IOC.<\/p>\n<p>Sri Lanka has leased 14 tanks to LIOC for fifty years. Another 24 tanks have been leased to CPC. CPC is joint venture of LIOC and Trinco Petroleum Private Limited. CPC <div class=\"youtube-subscribe-container\">\r\n        <a href=\"https:\/\/www.youtube.com\/channel\/UCNHT8lW-JmLC68rjBfZhdkg?sub_confirmation=1\" target=\"_blank\" class=\"youtube-subscribe-button\">\r\n            <span class=\"youtube-icon\">\r\n                <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 576 512\">\r\n                    <path d=\"M549.7 124.1c-6.3-23.7-24.8-42.3-48.3-48.6C458.8 64 288 64 288 64S117.2 64 74.6 75.5c-23.5 6.3-42 24.9-48.3 48.6-11.4 42.9-11.4 132.3-11.4 132.3s0 89.4 11.4 132.3c6.3 23.7 24.8 41.5 <div class=\"telegram-channel-container\">\r\n        <a href=\"https:\/\/t.me\/pscnotes2025\" target=\"_blank\" class=\"telegram-channel-button\">\r\n            <span class=\"telegram-icon\">\r\n                <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 496 512\">\r\n                    <path fill=\"white\" d=\"M248,8C111,8,0,119,0,256s111,248,248,248s248-111,248-248S385,8,248,8z M362,177L320,367c-3,14-10,18-20,14l-56-41l-27,26 c-3,3-5,5-10,5l4-63L323,196c5-5-1-7-8-3l-98,62l-42-13c-9-3-10-9,2-14l162-63C351,160,365,164,362,177z\"\/>\r\n                <\/svg>\r\n            <\/span>\r\n            Join Our Telegram Channel\r\n        <\/a>\r\n    <\/div> 48.3 47.8C117.2 448 288 448 288 448s170.8 0 213.4-11.5c23.5-6.3 42-24.2 48.3-47.8 11.4-42.9 11.4-132.3 11.4-132.3s0-89.4-11.4-132.3zm-317.5 213.5V175.2l142.7 81.2-142.7 81.2z\"\/>\r\n                <\/svg>\r\n            <\/span>\r\n            Subscribe on YouTube\r\n        <\/a>\r\n    <\/div> is Ceylon Petroleum Corporation. The CPC is to develop 61 oil farms in the country.<\/p>\n<p>Under the agreement signed in 2003, Sri Lanka agreed to lease all of its 99 tank oil farms to India. This has now been nullified by the new agreement. The new agreement brings in new <a href=\"https:\/\/exam.pscnotes.com\/governance-notes-for-state-psc-exams\">Governance<\/a> structure.<\/p>\n<p>Sri Lanka is under huge financial pressure. The country has to repay 4.5 billion USD in 2022 alone. Its <a href=\"https:\/\/exam.pscnotes.com\/foreign-exchange\">Foreign Exchange<\/a> reserves are decreasing largely.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Sri Lankan Government signed an agreement with the Lanka Indian Oil Corporation (LIOC). According to the agreement, Sri Lanka will lease oil tanks to IOC. Sri Lanka has leased 14 tanks to LIOC for fifty years. Another 24 tanks have been leased to CPC. CPC is joint venture of LIOC and Trinco Petroleum Private &#8230; <a title=\"Sri Lanka India Oil Deal\" class=\"read-more\" href=\"https:\/\/exam.pscnotes.com\/current-affairs\/sri-lanka-india-oil-deal\/\">Read more <span class=\"screen-reader-text\">Sri Lanka India Oil Deal<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[595],"tags":[711],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.2 (Yoast SEO v23.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Sri Lanka India Oil Deal - Current Affairs Exam<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/exam.pscnotes.com\/current-affairs\/2024\/06\/13\/sri-lanka-india-oil-deal\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Sri Lanka India Oil Deal\" \/>\n<meta property=\"og:description\" content=\"The Sri Lankan Government signed an agreement with the Lanka Indian Oil Corporation (LIOC). 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According to the agreement, Sri Lanka will lease oil tanks to IOC. Sri Lanka has leased 14 tanks to LIOC for fifty years. Another 24 tanks have been leased to CPC. CPC is joint venture of LIOC and Trinco Petroleum Subscribe ... 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