{"id":158135,"date":"2022-01-03T20:58:48","date_gmt":"2022-01-03T15:28:48","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=158135"},"modified":"2022-01-03T20:58:48","modified_gmt":"2022-01-03T15:28:48","slug":"developing-trincomalee-oil-tank-farm-what-the-deal-means-for-india-lanka","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/developing-trincomalee-oil-tank-farm-what-the-deal-means-for-india-lanka\/","title":{"rendered":"Developing Trincomalee oil tank farm: What the deal means for India, Lanka"},"content":{"rendered":"\n
What is the news?<\/span><\/b>\u00a0<\/span><\/h5>\n

Recently it was announced, that Indian Oil Subsidiary Lanka IOC would be given 49% stake in the joint development of the Trincomalee Oil Tank farm<\/span> with Ceylon Petroleum Corporation keeping 51%.<\/span>\u00a0<\/span><\/p>\n

This arrangement is for the next 50 years.<\/span>\u00a0<\/span><\/p>\n

The next step is three formal agreements: two between CPC and LIOC \u2014 one for the joint development and\u00a0the other for the 24 tanks to CPC \u2014 and the third between the Sri Lankan government and LIOC.<\/span>\u00a0<\/span><\/p>\n\n\n\n
Must Read<\/strong>: Sri Lanka to sign Trincomalee oil tank farm deal with India in a month, says Minister<\/span><\/a><\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

The idea of the agreement is 35 years old but has come into shape now.<\/span>\u00a0<\/span><\/p>\n

India focussed its attention over the matter after China got control over the Hambantota port<\/strong> in 2010.<\/span>\u00a0<\/span><\/p>\n\n\n\n
Must Read<\/strong>: India finalises cooperation plan to revive COVID-hit Sri Lankan economy<\/span><\/a><\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n
Why Trincomalee matters?<\/span><\/b>\u00a0<\/span><\/h5>\n

It is a pre-WWII era oil storage facility has a capacity of nearly 1 million tonnes, which far outstrips the demand in Sri Lanka. <\/span>\u00a0<\/span><\/p>\n

It is the nearest port to Chennai.<\/span>\u00a0<\/span><\/p>\n\n\n\n
Must Read<\/strong>: Sri Lanka’s economic crisis: Challenges for India – Explained, pointwise<\/span><\/a><\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Source:<\/span><\/b> This post is based on the article \u201c<\/span>Developing Trincomalee oil tank farm: What the deal means for India, Lanka\u201d\u00a0<\/span><\/b>published in The<\/strong> Indian express<\/strong>\u00a0on<\/span>\u00a03rd\u00a0Jan 2022<\/span><\/b>.<\/span>\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

What is the news?\u00a0 Recently it was announced, that Indian Oil Subsidiary Lanka IOC would be given 49% stake in the joint development of the Trincomalee Oil Tank farm with Ceylon Petroleum Corporation keeping 51%.\u00a0 This arrangement is for the next 50 years.\u00a0 The next step is three formal agreements: two between CPC and LIOC… Continue reading Developing Trincomalee oil tank farm: What the deal means for India, Lanka<\/span><\/a><\/p>\n","protected":false},"author":10328,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[1566,9],"tags":[10500],"class_list":["post-158135","post","type-post","status-publish","format-standard","hentry","category-daily-factly-articles","category-public","tag-indian-express","entry"],"jetpack_featured_media_url":"","views":{"total":0,"cached_at":"","cached_date":1704928667},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/158135","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/10328"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=158135"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/158135\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=158135"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=158135"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=158135"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}