minister and suspended payments of up to $700 million to four banks over hedging deals on oil purchases. Chief Justice Sarath Silva has ordered the country’s President to take over the duties of Petroleum Minister A. H. M. Fowzie for “failing” to supervise Ashantha de Mel, the chairman of the Ceylon Petroleum Corporation (CPC), which…
SRI LANKA: Court sacks petroleum minister, suspends payments to banks over troubled hedging deals
Posted on November 30, 2008 by EnergyAsia