United Petroleum Lanka has reportedly decided to cease operations in Sri Lanka, according to Sunday Lankadeepa.
CPC Managing Director Mayura Netthikumara confirmed that the Ceylon Petroleum Corporation has taken over operations at all United Petroleum-run fuel stations since January 2025.
The Australian energy company entered the market in August 2024 with a $27.5 million investment under a 20-year agreement.
However, dissatisfaction with operational conditions and failure to meet contractual obligations led the company to halt fuel imports in December 2024.
Anonymous employees indicated that operational restrictions were pushing the company toward a full exit.
United Petroleum’s departure poses a setback for Sri Lanka’s efforts to diversify its fuel retail sector and attract foreign investment.
