Sri Lanka: Government To Fast-Track $3.7B Refinery With China's Sinopec

Sri Lanka's foreign minister announced that the country signed an agreement with Chinese state-owned energy giant Sinopec to expedite the development of a proposed $3.7 billion oil refinery in Sri Lanka's southern port city of Hambantota, Reuters reported on Jan. 22. Sinopec and Sri Lanka will next work on determining the share of refined fuel allocated for export from the proposed refinery, and they aim to address outstanding issues related to land, taxes and water within a month....