Lanka IOC PLC celebrated the beginning of its 25th operational year in Sri Lanka with a market opening event on the trading floor of the Colombo Stock Exchange (CSE) earlier this week, marked by the ceremonial ringing of the Market Opening Bell. This occasion acknowledged the company’s significant contributions to the energy sector in Sri Lanka and its pivotal role in fostering the nation’s economic development as it approaches a quarter-century of service.
Founded in 2002 as a subsidiary of Indian Oil Corporation Limited, Lanka IOC has established itself as a prominent entity within Sri Lanka’s downstream petroleum sector, securing a place on the S&P Sri Lanka 20 index. Over the last 24 years, the company has been instrumental in maintaining energy security across the nation through its extensive retail fuel network, lubricant offerings, bunkering services, and storage facilities.
Currently, Lanka IOC manages a vast array of fuel stations throughout the island and oversees strategic petroleum storage, while continuously investing in operational efficiency, service innovation, and sustainable practices. The company has consistently played a vital role in ensuring the country’s energy stability and has demonstrated resilience and a commitment to advancing Sri Lanka’s energy sector through long-term investments and collaborations.
During the ceremony, Mr. K. Raghu, Managing Director of Lanka IOC PLC, emphasized the company’s dedication to sustainable growth, operational excellence, and meaningful contributions to Sri Lanka’s economic and social progress. He stated, “As the energy landscape in Sri Lanka evolves, we remain steadfast in our commitment to ensuring energy security while focusing on supporting the country’s shift towards a more sustainable energy future, all while adhering to the highest standards of business excellence and fostering stakeholder trust.”
Mr. Rajeeva Bandaranaike, Chief Executive Officer of the Colombo Stock Exchange, also addressed the attendees, extending his congratulations to Lanka IOC on reaching this significant milestone. He remarked, “On behalf of the Colombo Stock Exchange, I commend Lanka IOC PLC on its 24th anniversary and the start of its Silver Jubilee Year. This achievement reflects the company’s strong leadership and enduring impact on Sri Lanka’s energy landscape. We wish the team continued success in the future.”
The event, featuring the symbolic bell-ringing, united representatives from both Lanka IOC PLC and the CSE in recognition of the company’s long-standing influence on Sri Lanka’s economic and industrial framework.
Pictured: (Left – Right): Mr. Sandeep Gupta, Vice President – Engineering, Lanka IOC PLC (LIOC); Mr. Singhal Avinash, Senior Vice President – Finance, LIOC; Mr. Rajeeva Bandaranaike, CEO, Colombo Stock Exchange (CSE); Mr. Raghu Krishnamoorthy, Managing Director, LIOC; Mr. Jitendra Sharma, Senior Vice President – Retail Sales, LIOC; Mr. Sunil Kanta Maharana, Vice President – Operations & Bunker, LIOC; Mr. K.A.N Prabhu, Vice President – Finance, LIOC; Mrs. Nilupa Perera, Chief Regulatory Officer (CRO), CSE.
Financial Chronicle Biz English | Sri Lanka Business News.
