Author Archives: lankaioctest

As a leader amoung Sri Lanka oil companies Lanka IOC introduces new look Servo Lubricants to local market

The specialty of the product as mentioned was its improved strength and aesthetic look and the feel for the buyer.  Other features as noted were its increased speed, smoothness, higher life span and energy with a higher load. Lanka IOC PLC Managing Director Shyam Bohra said that they are pleased to introduce the global container concept to Sri Lanka.

“The new design has the ease of handling it, and the aesthetic look is better than before. This particular design has been developed following research,” he said.He added that this container is much stronger in terms of design and the container can be used for different purposes and will certainly benefit the end users more. Though there are 13 players in the country’s lubricant market at present, Chevron being the leader, he said that with improved accessibility and brands, their market share is increasing year-on-year.

Being the number two player in Sri Lanka and enjoying a market share of 17-18 percent at the moment, he said that they are aspiring to touch up to 25 percent in 4-5 years. He added that as the R&D is done in India, the new technology is being immediately imparted to Sri Lanka.

He further said that with over 1,000 commercial grades and over 1,500 formulations encompassing literally every conceivable application, SERVO serves as a one-stop shop for complete lubrication solutions in the automotive, industrial, and marine segments.

It was also noted that it comes to Sri Lanka as a compliment from the parent company as it will not add any extra cost to LIOC or consumers.

As LIOC exports Servo brand of lubricants to Maldives, they would be exporting to Indonesia as well in the near future.

Lanka IOC is a leader among Sri Lanka Oil Companies and the Indian Oil’s subsidiary in Sri Lanka, is the only private oil company other than the state-owned Ceylon Petroleum Corporation (CPC) that operates retail petrol/diesel stations in Sri Lanka and a key player in engine oil in Sir Lanka market. It has over 150 fuel stations in  Sri Lanka.

Taken from Daily Mirror 

Lanka IOC mulls expanding Trinco bunkering operations

Sri Lanka’s IOC a visible player among Sri Lanka Oil Companies, a subsidiary of Indian Oil Corporation, is to expand their existing bunkering operations at Trinco port as the prospects for this business line are promising, particularly given the strategic positioning of the port and its significant potential for growth, the company said.

Trincomalee is the world’s 5th best natural harbour and provides an excellent opportunity to meet the bunker need of the vessels operating on the Bay of Bengal – Western Countries shipping route.

LIOC commenced bunkering operations in Trincomalee in June last year and to optimize the storage and operating costs the company commissioned storage of bunker fuels at its Trincomalee Terminal in February 2016.

The company currently operates one bunker barge with capacity for 400 MT of 380cst fuel and 400 MT of MGO.

The forex income generated from this business line has enabled the LIOC to hedge against its foreign currency payments in the purchase of oil imports.

During the 2015/16 financial year, bunkering has achieved a volume growth of 20 percent although revenue declined by 31 percent due to the reduction in international prices, the company’s annual report showed.

Operating from Colombo and Trincomalee harbour, LIOC is the 2nd largest operator for bunkering in the island’s bunkering market supplying fuel oil and diesel for vessels at berth and anchorage at the Colombo and Trincomalee ports, which accounted for 13 percent of company’s revenue.

During the Indian PM’s visit to Sri Lanka, Ceylon Petroleum Corporation and LIOC agreed to jointly develop the upper tank farm of the China Bay installation in Trinco.

Lanka IOC, already operates 15 oil storage tanks out of 99 tank farm in Trinco and each storage tank has a capacity of around 12,000 tonnes.

Meanwhile, petroleum sector unions recently charged the government for trying what they called ‘to privatize’ the Trincomalee tank farm to India and Hambanthota oil and bunkering business to China.

Convener for Petroleum Union Collective D J Rajakaruna said the government allows other countries to make profits out of promising bunkering business in Trinco and Hambanthota without letting the business to the state owned CPC.

He further charged that the government is also planning to form a separate company under CPC for aviation business with a view to ‘privatize’.

 

Taken from – LBO

Lanka IOC celebrates International Women’s Day 2017

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Lanka IOC embraces the diversity of every employee through an inclusive and accountable culture. Our diversity and inclusion is embedded in our core values and is a key driver of our success. Each year Lanka IOC celebrates International Women’s Day in a big way. This year also we celebrated International Women’s Day 2017 with the theme “Be Bold for Change’. On this occasion, prominent speaker in Sri Lanka Ms. Deshika Rodrigo graced the function as Chief Guest. She is Head of HR of Standard Chartered Bank.

On the occasion, our Managing Director Mr. Shyam Bohra, appreciated the contribution of female employees in the success of the company. He also stated that as part of IOC culture, Lanka IOC always encourages female employees to grow in organization, acquire additional qualification and skills. They are given incentives for acquiring additional qualifications/skills.

Chief Guest Ms. Deshika Rodrigo addressed the employees on this year’s theme “Be Bold for Change”. She conducted a workshop on the ‘Work Life Balance’, on the struggle a woman goes through and how to balance the career life and personal life to overcome the obstacles. It was a very interactive session & participants enjoyed the session as well found it very useful.

At the end of the function, all the female employees were felicitated with a memento by MD, Lanka IOC.

 

LANKA IOC PLC Capability Building Workshop for Dealers

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In its endeavors to built capabilities of our channel partners towards even changing external environment and to make them better capable in handling challenges in the market place, Lanka IOC PLC conducts several workshops for its dealers with the help of experts in the field.

One such workshop on Capability building was conducted for dealers in association with Faculty of Management studies, University of Sri Jayewardenepura. The major topics included in this workshop Attitude change, Human Resources Management, Customer orientation, and Brand Management.

About 65 dealers participated in this workshop successfully conducted by Senior lecturer Mr. Rukmal Weerasinghe and Dr. Janak Kumarasinghe, in the presence of Senior Vice President (RS & HR) Mr. Siddharth Agarwal.

 

Skill building program in INDIA for Employees of Lanka IOC PLC

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Recently Lanka IOC conducted a skill building program for its employees in collaboration of the Indian Oil Corporation Limited at its facilities in Mumbai India. The training was conducted at IOC’s world class training center at Mumbai “IndianOil Management Centre for Learning (IMCL)” during January 2017.

The objective of the program was not only to give technical inputs on product knowledge, selling skills with focus of customer relationship management, but also to expose them to the values & strength of the parent company. Indian Oil Corporation (IndianOil) is India’s largest commercial enterprise, with a sales turnover of US$ 61 billion for the year 2015-16. IndianOil is ranked 161st among the world’s largest corporates (and first among Indian enterprises) in the prestigious Fortune ‘Global 500’ listing for the year 2016.

Lanka IOC team was absolutely delighted after their visit to India with some of the members expressing it as a life changing experience. Visit to India also gave them an opportunity to see some important tourist places.

 

Appointment of Lube Distributors

 

Click on the link bellow to download the application form for lube distributors. Be a part of the family where we offer the best quality lubricants, engine oil Sri Lanka deserves. 

 

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Lanka IOC a prominent figure among Sri Lanka oil companies slashes prices of own fuel varieties

A prominent figure among Sri Lanka oil companies and Sri Lanka’s only private oil company that operates fuel retail outlets and a key figure among Sri Lanka oil companies, Lanka IOC PLC said it was reducing the prices of two of its own fuel brands from midnight, yesterday.

Accordingly, the price of a litre of Xtra Premium Euro 3 (petrol) and Xtra Mile (diesel) was reduced by Rs.2 each.

The revised prices of Xtra Premium Euro 3 (petrol) and Xtra Mile (diesel) will be Rs.121 and Rs.97 per litre, respectively.

Sri Lanka has fixed prices for diesel and petrol but special varieties don’t come under them. The government is yet to introduce a transparent cost-reflective pricing mechanism for the fuel retailing sector.

Taken from Daily Mirror