Despite the average price of crude oil in the world market, a Sri Lankan buyer has paid a whopping $286 for a barrel of crude oil, international media have reported.
Georges Elhedery, CEO of HSBC Bank, made the statement at an investment conference in Hong Kong, the news agency ‘Middle East Eye’ reported. The news said that he made this statement at an investment conference held in Hong Kong.
Although the average price of a barrel of crude oil (Brent Crude) in the world market is in the range of $95-100, South Asian countries have had to pay more than that when buying oil, and the main reason for this is the tense military situation in the Middle East region, the HSBC chief pointed out.
Meanwhile, the Ceylon Petroleum Corporation (CPC) has issued a statement denying the news. A statement issued by the Chairman of the Corporation states that the news of crude oil being purchased at a high price is false.
The Chairman states in his statement that the rumors that the Corporation has agreed to pay US$286 for a barrel of crude oil are completely false and that no agreement has been reached at such a price.
