Lubricant Report

Public Utilities Commission of Sri Lanka is the shadow regulator of the Lubricant Market of Sri Lanka

Lubricant Market

The Government has appointed PUCSL as the shadow regulator for the Lubricants Market. Legislative enactments are currently pending, which would enable the PUCSL to fully regulate the downstream Petroleum Industry. As the shadow regulator of the lubricants market, the PUCSL advises the Ministry of Petroleum Industries on policy and regulatory matters with respect to liberalization of the lubricants industry. When the lubricant market was further liberalized in 2006, PUCSL assisted and advised the Ministry of Petroleum Industries in formulating the policy framework and market entry criteria in order to ensure that only quality lubricants meeting internationally accepted standards are allowed into the market. PUCSL assisted the Ministry of Petroleum in executing the necessary agreements with the selected market participants.