Sri Lanka has recently announced a bid to purchase 240,000 metric tones of gas oil for delivery from June to August 2023. Gas oil is a type of fuel oil used in various applications, including transportation and power generation.
The bid is part of Sri Lanka’s efforts to secure its energy supply and meet the country’s growing energy demands. However, the success of the bid will depend on various factors, including the availability of supply and the competitiveness of the bid price.
Several earlier tenders were also canceled or delayed and business analysts say that the call made after about a year is a positive signal.
It is important to note that the use of fossil fuels, including gas and oil, has negative environmental impacts, including air pollution and greenhouse gas emissions. Therefore, it is crucial for countries to transition towards cleaner and renewable energy sources to address climate change and reduce their carbon footprint.