The International Women’s day which was on the 8th March was celebrated at Lanka IOC with lot of fervor and gaiety.

Mr Shyam Bohra, Managing Director appreciated the achievements of the women employees and the invaluable contribution made by them in helping the company reach the enviable position of becoming the 4th largest public liability company in Sri Lanka today. He conveyed that the theme for International Women’s day 2016 ” PLEDGE FOR PARITY” needs to be imbibed in word and spirit . Later all employees took this pledge of valuing women and men’s contribution equally , challenging conscious and unconscious bias and creating an inclusive and flexible work culture in the company . He also conveyed that while currently the women employees in Head Office constitute 25% of the total employee strength , efforts are on to recruit more women employees in the organization.

To improve the orientation of the women employees at work place and at home ,a workshop was organized in which Ms Archana Law a management expert representing “Women in Management” emphasized the need for women to work uninhibitedly and with commitment so that their potential is fully realized. She also conveyed the need for gender equality , empowerment and the need to maintain a proper work – life balance.

A similar program was conducted at Trincomalee Terminal wherein senior government officials were invited who shared their experiences and appreciated the contributions being made by the women employees working in challenging conditions.

Mementoes were later given to all the women employees as a token of recognition of their good work .

The participants at the Lanka IOC Health Screening Camp held on the 22 Jan 2016.

Lanka IOC PLC, acknowledging its responsibility towards the society conducted several Corporate Social Responsibility (CSR) initiatives under its theme‘WE CARE’ with several noble programs. In addition to a series of welfare programs including assistance for elders’ homes, renovation of healthcare centre, donation of ambulances, wheelchairs and English education for underprivileged children, Lanka IOC also organised free health camps at different locations all over the Country.

In the recent past, Lanka IOC organised health camps at Katugasthota, Ratnapura, Negombo,
Dematagoda, Badulla and has now organised yet another “Free Health Screening Camp” at the
Lanka IOC Fuel station M/S R. M. Pulendran at Mannar junction, Vavuniya. This initiative received a tremendous response and appreciation from all those who patronized the ‘FreeHealth Screening Camp’. A total of 958 people were screened at the event, where 716 opted for an eye check-up and 242 underwent general health check-up. Amongst those who availed themselves for the check-up, 597 were recommended for bifocal spectacles whilst 117 were recommended for cataract surgeries – all treatments provided free of charge.

Doctors attending to the participants at the Lanka IOC Health Screening Camp held on the 22 Jan 2016.

This medical camp solicited the experience of a team of 14 medical experts from “HelpAge SriLanka” including 4 doctors, 2 nurses, a pharmacist, 2 optometrists and support staff to provide aprofessional service to the patients. For ensuring proper diagnosis, sophisticated medical equipment was used to screen patients for diabetes, blood pressure, vision and other diseases. Wherever critical illness was diagnosed, the patients were referred to hospitals for further investigation and treatment.

“We at Lanka IOC strive to use our energy and resources to benefit the community at large”, said Mr. Shyam Bohra, Managing Director, Lanka IOC PLC. “We are proud to be a socially responsible corporate entity and have organised series of social service projects under the theme ‘WE CARE’. We wish to cover all the districts of Sri Lanka with our Free Medical ServiceCamps, so that the benefit is shared with the entire community”

The next free medical camps of Lanka IOC are to be scheduled for the coming months of February and March 2016 respectively.

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Extracted from Daily Mirror

Lanka IOC PLC, under its theme ‘We Care’, conducts several corporate social responsibility (CSR) programmes namely free health screening camps, assistance for elders’ homes, renovation of healthcare centre, donation of ambulance, wheelchairs and English education for underprivileged children.
As part of the CSR projects, a free health screening camp was held recently at the petrol shed on Passara Road, Badulla in coordination with HelpAge Sri Lanka providing health check-up, free spectacles and wherever necessary the patients were referred to specialized hospitals to cure their illness.
A total of 601 elders were screened at the event, where 485 underwent eye check-up and 116 underwent general health check-up. Out of the elders who were present, 438 elders were recommended for bifocal spectacles which were supplied to them as per their prescription the day and 17 elders were recommended for cataract surgeries – all treatment are provided free of charge.
The next free medical camp of Lanka IOC is scheduled in the third week of December at the LIOC petrol shed in Vavuniya.

ECONOMYNEXT

The Sri Lankan unit of Indian Oil Corporation plans to expand export markets and has said it will enter the Malaysian and Indonesian lubricant markets.
“Our growth plans have not been limited to the domestic market,” Lanka Indian Oil Corp. Managing Director Subodh Dakwale said.

LIOC has done a study on entering export markets with its premium lubricants and is currently testing the markets of Indonesia and Malaysia with the appointment of a small number of distributors for Lanka IOC lubricants.

“Plans for exporting lubricants will be unrolled during the year to test the markets of Indonesia and Malaysia,” Dakwale told shareholders in the company’s annual report.

“Although I do not anticipate significant revenue contributions from market development initiatives over the short term, I believe export markets will open up new revenue opportunities over the longer term.”  (Colombo/August 25 2015)

Extracted from Daily News

Lanka IOC is planning on investing Rs. 400 million to add another 20 fuel stations to the current network, while also completing refurbishments of the existing fuel outlets, Lanka IOC Managing Director Subodh Dakwale said.

The company has also plans to export lubricants to test the markets of Indonesia and Malaysia.

The company’s market share of the lubricants sector will also be expanded through promotional campaigns by utilising the growing fuel station network as retail points. In this regard, extensive market surveys have already been conducted and revamped Lanka IOC lubricants will be launched in the new financial year(2015/2016). “Although I do not anticipate significant revenue contributions from market development initiatives over the short term, I believe export markets will open up new revenue opportunities over the longer term,”Dakwale said.

Lanka IOC bunkering operations are currently facing severe price competition from Indian ports that are able to offer lower prices due to domestic production of fuels, while Lanka IOC has to accommodate the additional costs related to fuel imports. However, he is hopeful that company’s technical expertise and extensive range of services will continue to provide a competitive advantage to ensure sustained revenue growth in the new financial year. (IH)

Extracted from: www.shipandbunker.com

Lanka IOC PLC (Lanka IOC), the Sri Lankan subsidiary of India’s largest oil refiner Indian Oil Corporation Ltd, says it is aiming to sell 10,000 mt of MGO and 380 CST by the end of 2015, Platts reports.

The company has already reportedly sold 4,000 mt of both 380 CST and MGO since its Trincomalee bunkering operations began on June 25, and is aiming to increase this to 6,000 mt during its second month of operations.

Lanka IOC is said to have a capacity for 20,000 mt of 380 CST and 6,000 mt of MGO in its Trincomalee storage tanks.

Lanka IOC is currently offering 380 CST product that it says it imports through a tender process from either Singapore, Fujairah, or India.

Both types can be set for delivery within the next one or two weeks, says Lanka IOC.

Last week, it was reported that Lanka IOC had commenced bunkering operations from its Trincomolee oil terminal, which is said to provide additional bunkering options to the vessels operating in Bay of Bengal.

Extracted from: Daily FT

Lanka IOC joined hands with CMA – Sri Lanka as Platinum Sponsor for the Global Management Accounting Summit 2015 to be held on 27-29 July at Cinnamon Lakeside, Colombo.

The Sponsorship Cheque was presented to Prof. Lakshman R. Watawala by Subodh Dakwale.

From left: CMA Consultant L.B. Wattegedare, Lanka IOC Senior VP (Finance) Anuj Jain, Lanka IOC Managing Director Subodh Dakwale, CMA President Prof. Lakshman R. Watawala, CMA VP Basheer Ismail, CMA Council Member H.M. Hennayake Bandara and CMA Council Member Adrian Perera

Sri Lanka will soon formulate a business plan to expedite the development of China Bay oil storage facility as a major step towards making Trincomalee a regional petroleum hub with Indian assistance, a top official revealed.

Secretary to the Ministry of Power and Energy, Dr. B.M.S Batagoda told Business Times that a ten member task force is now working out the business plan aimed at harnessing full potential of the tank farm .

He noted that Indian Prime Minister Narendra Modi during his visit to the island in March this year has pledged to help Sri Lanka to turn Trincomalee into a regional petroleum hub and the Sri Lankan government has already made preliminary arrangements towards this end. A meeting of members of the task force was held at the Ministry of Power and Energy this week to discuss matters pertaining to the business plan, he disclosed.

The Lanka Indian Oil Corporation (LIOC) and the Ceylon Petroleum Corporation (CPC) have agreed to jointly develop the Upper Tank Farm at China Bay in Trincomalee on mutually acceptable terms, he said.

These oil tanks were built by the British in 1944 but had been lying idle since the end of World War two and the then government of Prime Minister Ranil Wickremesinghe has agreed to give them to India in the early 2000s. However it was not materialised.

LIOC Managing Director Subodh Dakwale told Business Times that his company already utilizes 14 tanks in the Lower Tank Farm and it will soon take over the upper tank farm with 84 giant oil tanks

Trincomalee’s China Bay facility, leased to Lanka IOC in 2002, has a potential storage capacity of about a million tonnes, each tank having a capacity of 12,100 tonnes. Mr. Dakwale said that a feasibility study on the project should be conducted to find out as to how refurbishment will be done, how much money to be spent and what opportunities are there for us to explore, he said.

Of the original 101 tanks built by the British in the 1930s, only 99 still exist and two were destroyed during the Second World War.

He said the 84 remaining tanks in the upper farm will have to be extensively rehabilitated.

The Trincomalee oil tank farm was included in the Indo-Lanka peace accord signed in July 1987 barring other countries from taking over it.
Under the pact, the work of restoring and operating the oil tank farm should be carried out as a joint venture between India and Sri Lanka.

Lanka IOC was established in Sri Lanka in the year 2002. Today Lanka IOC is one of the leading companies in Sri Lanka and is ranked among the top three companies with an annual turnover of more than Rs. 80 billion.

LIOC is not only engaged in petroleum retaining thru our 179 petrol sheds, LIOC is also into marketing of lubricant, bitumen and bunker fuels where we they enjoy sizable market share.

Oil terminal at Trincomalee is the storage hub for petroleum products in Eastern part of the country. Besides Oil storage LIOC is having a full fledged blending plant in Trincomalee for lubricants with an annual capacity of 18000 MT. Lanka IOC has always believed in high quality standards and has set up a state of the art quality control laboratory in Trincomalee.

Although LIOC had a laboratory in place with state of the art equipments and high quality standards, a need was felt for getting external certification for the same. On 8th April’15 , LIOC became the first company in Sri Lanka to get its fuel lab certified for ISO 901:2008 from Sri Lanka Standard Institute.

This is a significant achievement in our journey towards providing quality products and enhancing confidence for our customers.

Our state of the art lube testing facility has also been certified for ISO 9001:2008 along with the fuel facility. Lanka IOC wishes to make Trincomalee a quality hub for petroleum sector.