LMD 100 Q&A

Q: Describe your organisation’s  diversification journey since its inception...

A: Over the last two decades, Lanka IOC (LIOC) has powered the nation whilst traversing myriad external challenges. We played a pivotal role in Sri Lanka’s business landscape by fuelling the Sri Lankan spirit, successfully powering the nation through our vibrant distribution channels and an islandwide footprint of 256 retail outlets.

Over the years, we have introduced a diversified range of products – from branded fuels to wet brake oils for tractors. We commissioned a lube blending plant in 2007 to meet the local demand and for export to neighbouring countries.

We also commissioned Sri Lanka’s first and only indigenous grease manufacturing plant in 2022 with a blending capacity of 3,000 MT every year.

Lanka IOC also ventured into bunkering operations from ports across Sri Lanka in 2015. Today, it is one of the leading marine bunkering and bunker fuel suppliers, earning substantial foreign exchange for the economy.

Our newly introduced Propel brand of petrochemicals is a new initiative with much potential.

Driven by passion and dedication, we have always moved beyond the call of duty to serve the nation with pride. As a formidable energy provider, we stand firmly committed to power the nation today, tomorrow and beyond.


Q: What is your assessment of Sri Lanka’s economic path, given the multiple crises the nation has faced in recent times?

A: Challenges over the last three years tested the remarkable resilience of the Sri Lankan people, who have risen strongly over waves of socioeconomic turmoil to chart a path of revival, defying all odds.

The government’s reforms are already taking shape and the economy is being put strongly back on the path of recovery with the IMF backed programme. And the economy seems to be making a slow but steady recovery. However, governance issues and challenges need to be addressed to sustain the momentum.

Q: What measures have been taken to sustain or grow your company in the past 12 months?

A: We have navigated a challenging business landscape during the past 12 months, demonstrating our continuous commitment to providing the best quality products and superior customer service.

To this end, we increased our reach with 43 new retail outlets, bringing the total shed footprint in the island to 256. By enhancing the value proposition offered to our customers, we have transformed the energy landscape of Sri Lanka.

We also expanded our market presence to neighbouring countries and successfully ventured into bitumen exports. This strategic move not only provided new growth opportunities for LIOC but also contributed to the economic stability of Sri Lanka by earning valuable foreign exchange.

Q: What trends do you observe in your industry – and what have you done as a business to optimise such emerging trends?

A: Sri Lanka’s energy consumption has been on the rise, compelling a shift in the country’s energy landscape. As the world keeps moving towards cleaner and more sustainable energy sources, Sri Lanka too has initiated steps to embrace renewable energy.

To optimise this emerging trend and reflect our commitment to green energy sources, we have planned to expand our network of electric vehicle (EV) charging stations across our filling stations.

We entered into a strategic partnership with Greenstat Hydrogen India to explore the energy potential of hydrogen, enabling Sri Lanka to transition to renewable energy. Solarisation is also being conducted and the majority of our sheds have already been solarised.

Q: What are the major challenges facing your industry?

A: Around three new players are set to enter this space following Sri Lanka’s fuel market liberalisation, of which one has already started supplying products locally. This is a significant development, which will diversify and broaden the market – so far, a duopoly held by Ceylon Petroleum (CPC) and LIOC.

Lanka IOC welcomes this move as it creates more competition, and will lead to improvements in service quality and competitive pricing. This will ultimately benefit Sri Lankan motorists, further enhancing the customer experience by creating new services at our retail outlets.

We have already taken steps to consolidate and strengthen our footprint in the island.

As the forces of change converge to create new possibilities, LIOC is well positioned to face the future opportunities and challenges that lie ahead.

Telephone 2475720 | Email info@lankaioc.com | Website www.lankaioc.com