China's Sinopec Signs 20-Year Deal to Operate Sri Lanka's Fuel Stations Amid Energy Crisis

Sinopec will operate 150 existing fuel stations and build 50 new ones over the next 20 years in Sri Lanka.
The agreement allows Sinopec to import, store, distribute, and sell petroleum products in Sri Lanka to help resolve the country's energy crisis.
Sri Lanka hopes the deal will ensure uninterrupted fuel supply to consumers as it faces dollar shortages and energy issues.
The move also reflects China's efforts to expand its investments in Sri Lanka's ports and energy infrastructure despite security concerns from India.
Sri Lanka opened its retail fuel market to foreign companies in hopes of resolving its crisis, with Sinopec and other firms receiving approval to enter.