Crude Oil Not Purchased at USD 286 – Deputy Minister

20-Apr-2026

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Deputy Minister of Energy Arkam Ilyas stated that crude oil is not purchased at USD 286 per barrel and prices are determined based on fluctuating global market conditions, particularly developments in the Middle East.

He made this statement at a press briefing held on April 17 at the Department of Government Information.

He confirmed that 22 coal shipments are expected to arrive in the country, with two already received last week. Additional shipments procured under emergency arrangements are also expected to arrive without delay.

He further stated that power plant operations are continuing without disruption and there will be no power cuts.

Refuting media reports on crude oil priced at USD 286, he said the Sri Lanka Petroleum Corporation had already issued a clarification. Recent procurement prices included USD 71.99, with future purchases expected at approximately USD 71 and USD 113 depending on market fluctuations.

He reiterated that pricing is entirely linked to global market conditions and the USD 286 claim is false.