Ceylon Petroleum

What Ceylon Petroleum does

Ceylon Petroleum Corporation (CPC), trading as Ceypetco, is the state-owned petroleum corporation of Sri Lanka, established by Act No. 28 of 1961 of Parliament and operating since 1962. It is the sole petroleum refiner in the country, operating the Sapugaskanda Oil Refinery with a capacity of 50,000 barrels per stream day (6,900 metric tons/day) processing Iranian Light, Upper Zakum, and Arabian Light crude oils through crude distillation, naphtha unifiner, platformer, diesel unifiner, visbreaker, and vacuum/tarry blending units. The corporation employs 1,001-5,000 people including 1,100+ at the refinery, and is wholly owned by the Government of Sri Lanka under the Ministry of Energy.

CPC operates a vertically integrated petroleum value chain spanning four sub-brands: refined fuels (Lanka Petrol 92/95 Octane, Lanka Auto Diesel, Lanka Super Diesel, Lanka Kerosene, Lanka Fuel Oil), lubricants (Ceypetco Enduro, ATF, brake fluids, coolants, greases blended at an ISO 9001/2000 Kolonnawa plant), aviation fuel (Ceypetco Aviation holds a monopoly on Jet A-1 and Avgas 100LL supply at BIA, MRIA, and Ratmalana airports), and agrochemicals (insecticides, fungicides, weedicides, and the Flipper bio-pesticide, ISO 9001:2015/14001:2015/18001:2007 certified). Refining operations contribute an estimated 30-35% of total sales volume, with the balance from imports.

The corporation distributes through approximately 850 retail dealers across all 25 administrative districts, sells to registered bulk industrial consumers exceeding 3,300 liters/month, and operates digital channels including the National Fuel Pass QR-code allocation system and mobile applications. Revenue is generated through unit-pricing on fuels (regulated by government with subsidies, e.g., Lanka Auto Diesel at LKR 382/litre, Lanka Petrol 92 Octane at LKR 414/litre as of June 2026) and aviation fuel priced in USD (US$2.43-2.57 per gallon). Following 2026 Middle East supply disruptions, CPC secured emergency supplies from India and initiated Russian oil negotiations, while pursuing the Trincomalee Oil Tank Farm recovery and SOREM refinery modernization with Iranian financing.

Name

Ceylon Petroleum

Legal name

Ceylon Petroleum Corporation

Website

https://ceypetco.gov.lk

Company type

Private

Founded year

1961

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Ceylon Petroleum Corporation is Sri Lanka's state-owned petroleum monopoly, operating the country's sole refinery (50,000 BPSD), distributing fuels through ~850 dealers across all 25 districts, and holding a statutory monopoly on aviation fuel handling at national airports.

Ownership category

akta.pro rank

Product category

Petroleum Refining and Fuel Distribution

NAICS

Petroleum Refineries (32411), Petroleum Bulk Stations and Terminals (424710), Petroleum Lubricating Oil and Grease Manufacturing (324191), Petroleum and Petroleum Products Merchant Wholesalers (except Bulk Stations and Terminals) (424720)

SIC

Petroleum Refining (2911), Wholesale-Petroleum Bulk Stations & Terminals (5171), Wholesale-Petroleum & Petroleum Products (No Bulk Stations) (5172)

akta.pro primary industry

Refinery Blending & Product Quality Control (Gasoline/Diesel/Jet Blending, Additives) (EUALAGAJ)

akta.pro secondary industries

Branded Fuels Wholesaling & Jobber Distribution (EUALAIAB), Aviation Fuel Marketing (Into-Plane, Airport Fueling) (EUALAIAH), Commercial & Fleet Fueling (Cardlock, On-Site Tanks, Bulk Delivery) (EUALAIAD)

Keywords

• Petroleum refining
• Fuel distribution
• Aviation fuel
• Industrial lubricants
• Agrochemicals marketing

Headquarters

HQ city

Colombo

HQ country

Sri Lanka

HQ region

Asia

Offices15 records

Markets served

GTM type

B2B and B2C

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Infrastructure, Others

Revenue model

1. Petroleum Product Sales: Revenue from import, refining, and distribution of petroleum products including petrol, diesel, kerosene, furnace oil, jet fuel, and lubricants across Sri Lanka. Government subsidies applied to fuel prices as part of economic policy.
2. Aviation Fuel Services: Monopoly provider of aviation fuel (Jet A-1 and Avgas 100LL) at Bandaranaike International Airport, Mattala Rajapaksa International Airport, and Ratmalana Airport. Revenue from fueling operations with international and domestic airlines.
3. Agrochemical Distribution: Marketing of pesticides, fungicides, weedicides and bio-insecticides to farming communities. Established in 1969 as strategic business unit for price control in agrochemical market.

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels5 records

Core offering

Ceylon Petroleum Corporation refines crude oil at Sri Lanka's only Sapugaskanda refinery (50,000 BPSD capacity) and distributes petroleum fuels (Lanka Petrol 92/95 Octane, Lanka Auto Diesel, Lanka Super Diesel, Kerosene, Fuel Oils), aviation fuel (Jet A-1 and Avgas 100LL), Ceypetco-branded lubricants, and agrochemicals through a national network of approximately 850 dealers across 25 districts. The state-run corporation supplies retail consumers, industrial bulk buyers, and airlines at government-regulated prices, with monopoly status in aviation fuel handling and a digital National Fuel Pass system supporting distribution during supply rationing.

Product overview

Ceylon Petroleum Corporation (CPC/Ceypetco) is Sri Lanka's state-owned petroleum company operating as a vertically integrated oil refining and marketing enterprise. The company operates the Sapugaskanda Oil Refinery (50,000 BPSD capacity) producing fuels including Lanka Petrol 92/95 Octane, Lanka Auto Diesel, Lanka Super Diesel, Lanka Kerosene, and Lanka Fuel Oils. Beyond refining, CPC's portfolio includes Ceypetco Lubricants (ISO-certified blending plant producing engine oils, transmission fluids, greases), Ceypetco Agro Chemicals (ISO-certified insecticides, weedicides, fungicides including Flipper bio-pesticide), and Ceypetco Aviation (monopoly jet fuel supplier at Sri Lanka's three main airports). Digital services include the National Fuel Pass QR-code rationing system, bulk consumer registration, fuel station owner apps, and an online fuel ordering mobile application. CPC distributes through approximately 850 retail dealers across 25 districts nationwide.

Differentiator

Problem solved

Functional benefit

Brands

• Ceypetco Lubricants: Lubricating oils blended at ISO 9001/2000 certified plant, marketed under Ceypetco brand for industrial and automotive applications.
• Ceypetco Aviation
• Ceypetco Agro Chemicals

Products and services

• Sapugaskanda Oil Refinery (Petroleum Refining Operations) The Sapugaskanda Oil Refinery transforms crude oil (Iranian Light, Upper Zakum, Arabian Light) into high-quality petroleum products with a processing capacity of 50,000 BPSD (6,900 metric tons/day). Operated as the only petroleum refinery in Sri Lanka, it produces petrol, diesel, kerosene, furnace oil, and naphtha contributing 30-35% of total corporation sales volume. Includes Crude Distiller, Naphtha Unifiner, Platformer, Diesel Unifiner, Visbreaker, Vacuum Unit, Terox Unit, and Tarry Blowing Unit.
• Lanka Petrol 92 Octane Regular petrol fuel with 92 octane rating sold at Rs. 414 per litre (as of June 2026) for standard vehicle consumers across Sri Lanka. Price was reduced by Rs. 20 from Rs. 434 following supply easing.
• Lanka Petrol 95 Octane Euro 4 Premium petrol fuel with 95 octane rating meeting Euro 4 environmental standards, sold at Rs. 495 per litre for performance vehicles.
• Lanka Auto Diesel Standard automotive diesel fuel for commercial and personal vehicles sold at Rs. 382 per litre (as of June 2026). Price reduced from Rs. 407 in line with government fuel pricing policy.
• Lanka Super Diesel 4 Star Euro 4 Premium diesel fuel meeting Euro 4 environmental standards with enhanced performance, sold at Rs. 478 per litre for industrial and high-performance vehicle consumers.
• Lanka Kerosene Kerosene fuel sold at Rs. 285 per litre for household and industrial heating purposes across Sri Lanka.
• Lanka Industrial Kerosene Industrial-grade kerosene for manufacturing and commercial applications sold at Rs. 434 per litre through the bulk consumer program.
• Lanka Fuel Oil Super Heavy fuel oil sold at Rs. 332 per litre for industrial boilers, power generation, and manufacturing use.
• Lanka Fuel Oil 1500 Sec Heavy fuel oil with 1500-second viscosity rating available in high and low sulfur variants for marine and industrial applications.
• Ceypetco Lubricants (Complete Range) Complete range of lubricating oils blended at an ISO 9001/2000 certified plant meeting API, MTU Friedrichshafen, and ACEA specifications. Includes 2T, 4T oils, ATF, brake fluids, circulation oils, coolants, greases, gear oils, and specialty products for automotive and industrial applications.
• Ceypetco Enduro Engine Oils (SAE 10W30, 15W40, 20W50) Multi-grade engine oils (SAE 10W30, 15W40, 20W50) under the Ceypetco Enduro brand for passenger and commercial vehicles, blended at the ISO 9001/2000 certified plant.
• Ceypetco ATF Dexron III Automatic transmission fluid meeting Dexron III specifications for passenger and commercial vehicle automatic transmissions.
• Ceypetco Brake Fluid (DOT3/DOT4) Hydraulic brake fluids meeting DOT 3 and DOT 4 specifications for automotive braking systems and hydraulic applications.
• Ceypetco Coolant (Green / Red) Engine coolant and radiator fluids available in green and red formulations for vehicle cooling systems.
• Ceypetco Grease (MP/EP) Multi-purpose (MP) and extreme pressure (EP) greases for industrial and automotive lubrication applications.
• Ceypetco Agro Chemicals (Product Range) Government-sector agrochemical product line under Ceypetco brand, including insecticides, weedicides, fungicides, and bio-pesticides (including Flipper). Operations are ISO 9001:2015, ISO 14001:2015, and ISO 18001:2007 certified, serving Sri Lankan farmers since 1969.
• Ceypetco Insecticides Range Insect control products including Profenophos 50% EC, B.P.M.C. 50% EC, Fipronil 0.3% G, and Imidacloprid distributed to Sri Lankan farming communities for crop protection.
• Ceypetco Fungicides Range Fungus control products including Tebuconazole 25% EW, Mancozeb 80% WP, Captan 50% WP, and Sulphur 80% WG distributed to Sri Lankan farming communities.
• Ceypetco Weedicides Range Weed control products including Diuron 80% WP, Pretilachlor 30% EC, and Glyphosate 36% SL (restricted use) distributed to Sri Lankan farming communities.
• Flipper Bio-Pesticide Bio-pesticide product introduced under the Green Agriculture concept for organic farming to Sri Lankan farmers.
• Ceypetco Aviation Fuel Services Monopoly aviation fuel services at Bandaranaike International Airport (BIA), Mattala Rajapaksa International Airport (MRIA), and Ratmalana Airport with 24/7 operations, hydrant refuelling, and storage facilities. Provides Jet A-1 and Avgas 100LL to domestic and foreign airlines, meeting AFQRJOS, DEF STAN 91-91, and ASTM D1655 specifications.
• Jet A-1 Aviation Fuel Aviation turbine fuel meeting international AFQRJOS, DEF STAN 91-91, and ASTM D1655 standards, supplied at Sri Lankan airports under USD-denominated contracts (US$2.43-2.57 per US gallon).
• Avgas 100LL Aviation gasoline 100LL for piston-engine aircraft, supplied in 200-liter sealed drums to general aviation operators at Sri Lankan airports.
• National Fuel Pass (Digital Rationing System) QR code-based digital fuel rationing and distribution management system launched to streamline fuel allocation across Sri Lanka, with mobile apps for fuel users and station owners, plus WhatsApp inquiry channels.
• Bulk Consumer Registration Service Formal registration service for industrial consumers requiring more than 3,300 liters of Industrial Diesel, Industrial Kerosene, Furnace Oil, or SBP monthly, with bank guarantee requirements, mobile app ordering, and scheduled delivery coordination.
• Fuel Station Owner Mobile App Android mobile application for fuel station owners to manage fuel distribution through the National Fuel Pass system, distributed as APK download to enable digital rationing and queue management at dealer stations.
• Fuel Ordering Mobile App for Bulk Consumers Mobile application for registered bulk consumers to place industrial fuel orders (Industrial Diesel, Kerosene, Furnace Oil, SBP) and track deliveries online, with integrated online banking payment options.

Quantifiable outcome

• Saves approximately USD 1.5 billion monthly through price revision targeting 15-20% consumption reduction
• +3 more outcomes

Named customers7 records

Segments1 record

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Five partnerships are on record, tiered core and major.

• Export Development Board (EDB) Sri LankacoreStrategic or Co-development Partner · 3 April 2026EDB and CPC convened high-level meeting with export-oriented industries including apparel, gems and jewellery, electronics, marine, pharmaceuticals, ceramics, rubber, and technology sectors to address fuel accessibility concerns and establish prioritized fuel supply mechanism. Attended by EDB Chairperson and CEO Mangala Wijesinghe, CPC Chairperson D.J.A.S. De S. Rajakaruna, and CPC Managing Director Dr. Mayura Neththikumarage.
• Russian Oil CompaniescoreStrategic or Co-development Partner · 30 March 2026State-run Ceylon Petroleum Corp in active negotiations with Russian oil companies to import petroleum products as Middle East war constrains regional flows. Russian delegation led by Deputy Energy Minister Roman Marshavin visited Colombo for negotiations with government support for fuel product release to Sri Lanka.
• Russian Oil CompaniescoreStrategic or Co-development Partner · 30 March 2026Ceypetco seeking petrol and diesel supplies from Russian oil producers after finding Russian crude incompatible with Sapugaskanda refinery facilities.
• Government of IndiacoreStrategic or Co-development Partner · 13 March 2026Sri Lanka requested emergency fuel supplies from India following Strait of Hormuz closure. India reviewing requests while emphasizing domestic energy needs. Sri Lanka secured 38,000 tons of fuel from India.
• Trincomalee Oil Tank Farm Partners (Lanka IOC, LIOC, Trinco Petroleum Terminal Pvt Limited)majorStrategic or Co-development PartnerAgreement for regaining and developing Trincomalee Oil Tank Farm (China Bay) with joint venture partners including Lanka IOC PLC, LIOC, and Trinco Petroleum Terminal Pvt Limited for storage and terminal operations.

Scale indicators9 records

Recent moves7 records

Expansion highlights4 records

Direct peers

• Pakistan State Oil (PSO): PSO is Pakistan's dominant state-affiliated oil marketing company with a nationwide dealer network, monopoly-like market share in motor fuels, and dependence on imported refined products. Closely comparable in business model (state-aligned fuel marketer with refining partnership via Pakistan Refinery Limited) and operating environment (subsidies, forex constraints).
• Lanka IOC (LIOC): Lanka IOC is the principal direct competitor to CPC in Sri Lanka, also operating a retail fuel dealer network across the country and retailing petroleum products imported from Indian Oil Corporation. It is also CPC's JV partner at the Trincomalee Oil Tank Farm, making it the closest peer by both product overlap and geography.
• Bangladesh Petroleum Corporation (BPC): BPC is the state-owned petroleum corporation of Bangladesh operating in a structurally similar role - importing, refining, and distributing petroleum products as the national oil company for an adjacent South Asian economy with similar regulatory and forex dynamics. Directly comparable in mandate, monopoly status, and operational challenges.

Broad incumbents

• Petroliam Nasional Berhad (PETRONAS): Malaysia's state-owned integrated oil company that provides technical services (via Petronas Aviation) to Ceypetco Aviation. Comparable in integrated structure (refining, marketing, lubricants, aviation) and ASEAN/South Asian emerging-market positioning, though much larger and more internationally diversified.
• Indian Oil Corporation (IOC): Indian Oil Corporation is the parent of Lanka IOC and one of the largest state-owned integrated oil companies in Asia. Operates refineries, nationwide fuel marketing, lubricants (Servo brand), and aviation fuel across India - comparable in integrated value chain though at vastly larger scale and with broader geographic reach.
• Kuwait Petroleum Corporation (KPC): KPC is Kuwait's national state-owned integrated oil company operating refineries, fuel marketing, and aviation fuel worldwide (via Q8 brand). Comparable as a Middle East state oil company with refining focus and government ownership structure.
• Pertamina: Indonesia's state-owned integrated oil and gas company operating refineries, fuel retail networks, lubricants, and aviation fuel. Comparable as an Asian state-owned integrated petroleum company with monopoly-like domestic position and government-directed pricing.

Emerging players

• Emirates National Oil Company (ENOC): ENOC is a Dubai government-owned integrated energy company operating refining, retail, lubricants, and aviation fuel services. Comparable as a state-affiliated integrated player with growing aviation fuel and lubricants businesses in emerging markets, including aviation fuel partnerships with Sri Lankan operators.
• Hindustan Petroleum Corporation (HPCL): Indian state-owned oil marketing company operating refineries and retail networks; comparable in mid-scale refining, lubricant manufacturing (HP Lubricants brand), and aviation fuel marketing across South Asian markets including Sri Lanka-adjacent geographies.

Regional players

• Nepal Oil Corporation (NOC): NOC is Nepal's state-owned petroleum monopoly responsible for importing, storing, and distributing all petroleum products in Nepal. Comparable in mandate (state monopoly for national fuel supply), scale constraints (small landlocked country), and exposure to Indian supply dynamics as the dominant supplier.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/ceylonpetroleum
• LinkedInlinkedin.com/company/cpcsl

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles21 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Ceylon Petroleum