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LIOC Celebrates women's day

Lanka IOC celebrates International Women’s day

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The International Women’s day which was on the 8th March was celebrated at Lanka IOC with lot of fervor and gaiety.

Mr Shyam Bohra, Managing Director appreciated the achievements of the women employees and the invaluable contribution made by them in helping the company reach the enviable position of becoming the 4th largest public liability company in Sri Lanka today. He conveyed that the theme for International Women’s day 2016 ” PLEDGE FOR PARITY” needs to be imbibed in word and spirit . Later all employees took this pledge of valuing women and men’s contribution equally , challenging conscious and unconscious bias and creating an inclusive and flexible work culture in the company . He also conveyed that while currently the women employees in Head Office constitute 25% of the total employee strength , efforts are on to recruit more women employees in the organization.

To improve the orientation of the women employees at work place and at home ,a workshop was organized in which Ms Archana Law a management expert representing “Women in Management” emphasized the need for women to work uninhibitedly and with commitment so that their potential is fully realized. She also conveyed the need for gender equality , empowerment and the need to maintain a proper work – life balance.

A similar program was conducted at Trincomalee Terminal wherein senior government officials were invited who shared their experiences and appreciated the contributions being made by the women employees working in challenging conditions.

Mementoes were later given to all the women employees as a token of recognition of their good work .

Residents of Vavuniya benefit from Free Health Screening Camp by Lanka IOC

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The participants at the Lanka IOC Health Screening Camp held on the 22 Jan 2016.

 

Lanka IOC PLC, acknowledging its responsibility towards the society conducted several Corporate Social Responsibility (CSR) initiatives under its theme‘WE CARE’ with several noble programs. In addition to a series of welfare programs including assistance for elders’ homes, renovation of healthcare centre, donation of ambulances, wheelchairs and English education for underprivileged children, Lanka IOC also organised free health camps at different locations all over the Country.

In the recent past, Lanka IOC organised health camps at Katugasthota, Ratnapura, Negombo,
Dematagoda, Badulla and has now organised yet another “Free Health Screening Camp” at the
Lanka IOC Fuel station M/S R. M. Pulendran at Mannar junction, Vavuniya. This initiative received a tremendous response and appreciation from all those who patronized the ‘FreeHealth Screening Camp’. A total of 958 people were screened at the event, where 716 opted for an eye check-up and 242 underwent general health check-up. Amongst those who availed themselves for the check-up, 597 were recommended for bifocal spectacles whilst 117 were recommended for cataract surgeries – all treatments provided free of charge.

 

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Doctors attending to the participants at the Lanka IOC Health Screening Camp held on the 22 Jan 2016.

 

This medical camp solicited the experience of a team of 14 medical experts from “HelpAge SriLanka” including 4 doctors, 2 nurses, a pharmacist, 2 optometrists and support staff to provide aprofessional service to the patients. For ensuring proper diagnosis, sophisticated medical equipment was used to screen patients for diabetes, blood pressure, vision and other diseases. Wherever critical illness was diagnosed, the patients were referred to hospitals for further investigation and treatment.

“We at Lanka IOC strive to use our energy and resources to benefit the community at large”, said Mr. Shyam Bohra, Managing Director, Lanka IOC PLC. “We are proud to be a socially responsible corporate entity and have organised series of social service projects under the theme ‘WE CARE’. We wish to cover all the districts of Sri Lanka with our Free Medical ServiceCamps, so that the benefit is shared with the entire community”

The next free medical camps of Lanka IOC are to be scheduled for the coming months of February and March 2016 respectively.

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Lanka IOC conducts free health screening camp

Extracted from Daily Mirror

Lanka IOC PLC, under its theme ‘We Care’, conducts several corporate social responsibility (CSR) programmes namely free health screening camps, assistance for elders’ homes, renovation of healthcare centre, donation of ambulance, wheelchairs and English education for underprivileged children.
As part of the CSR projects, a free health screening camp was held recently at the petrol shed on Passara Road, Badulla in coordination with HelpAge Sri Lanka providing health check-up, free spectacles and wherever necessary the patients were referred to specialized hospitals to cure their illness.
A total of 601 elders were screened at the event, where 485 underwent eye check-up and 116 underwent general health check-up. Out of the elders who were present, 438 elders were recommended for bifocal spectacles which were supplied to them as per their prescription the day and 17 elders were recommended for cataract surgeries – all treatment are provided free of charge.
The next free medical camp of Lanka IOC is scheduled in the third week of December at the LIOC petrol shed in Vavuniya.

Lanka IOC foresees higher bitumen demand with construction boom

Extracted from Daily Mirror – 26th Aug 2015

The country’s largest privately held petroleum products distributor Lanka IOC foresees a pickup in the bitumen Sri Lanka market with the restart of several government projects.

“As Sri Lanka accelerates its developmental activities, including the construction and renovation of roads, demand for bitumen is set to increase. Therefore, I am hopeful of resurgence in demand for bitumen within the new financial year,” Lanka IOC Managing Director Subodh Dakwale said.

Though new road construction was halted for just 3 months, Lanka IOC had seen a steep contraction in the bitumen sector during the past financial year.

“With no road development activities by the government during the latter part of the financial year, the demand for Bitumen was severely impacted, causing overall volumes from this segment to contract by 44 percent year-on-year,” Dakwale said.

However, the oversupply of oil in the global market could spell greater profits for the bitumen sector going forward due to reduced cost of production, if retail prices are held up. Crude oil prices fell below US$40 per barrel this week for the first time since 2009.

Bitumen is a hydrocarbon binding material which has a wide variety of industrial applications including its use as a binding agent for road surfacing and waterproofing. It is obtained either naturally, or as a petroleum or coal by-product.

While Lanka IOC imports the bitumen it sells, state-owned Ceylon Petroleum Corporation has the largest bitumen market share through its residual production at the Sapugaksanda refinery.

Sri Lanka IOC providing quality engine oil in Sri Lanka, to enter Malaysia, Indonesia lubricant markets

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The Sri Lankan unit of Indian Oil Corporation plans to expand export markets and has said it will enter the Malaysian and Indonesian lubricant markets.
“Our growth plans have not been limited to the domestic market,” Lanka Indian Oil Corp. Managing Director Subodh Dakwale said.

LIOC has done a study on entering export markets with its premium lubricants and is currently testing the markets of Indonesia and Malaysia with the appointment of a small number of distributors for Lanka IOC lubricants.

“Plans for exporting lubricants will be unrolled during the year to test the markets of Indonesia and Malaysia,” Dakwale told shareholders in the company’s annual report.

“Although I do not anticipate significant revenue contributions from market development initiatives over the short term, I believe export markets will open up new revenue opportunities over the longer term.”  (Colombo/August 25 2015)

Lanka IOC to invest Rs 400m on more outlets

Extracted from Daily News

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Lanka IOC is planning on investing Rs. 400 million to add another 20 fuel stations to the current network, while also completing refurbishments of the existing fuel outlets, Lanka IOC Managing Director Subodh Dakwale said.

The company has also plans to export lubricants to test the markets of Indonesia and Malaysia.

The company’s market share of the lubricants sector will also be expanded through promotional campaigns by utilising the growing fuel station network as retail points. In this regard, extensive market surveys have already been conducted and revamped Lanka IOC lubricants will be launched in the new financial year(2015/2016). “Although I do not anticipate significant revenue contributions from market development initiatives over the short term, I believe export markets will open up new revenue opportunities over the longer term,”Dakwale said.

Lanka IOC bunkering operations are currently facing severe price competition from Indian ports that are able to offer lower prices due to domestic production of fuels, while Lanka IOC has to accommodate the additional costs related to fuel imports. However, he is hopeful that company’s technical expertise and extensive range of services will continue to provide a competitive advantage to ensure sustained revenue growth in the new financial year. (IH)

Lanka IOC Sets 10,000 mt Bunker Sales Target in Trincomalee

Extracted from: www.shipandbunker.com

Lanka IOC PLC (Lanka IOC), the Sri Lankan subsidiary of India’s largest oil refiner Indian Oil Corporation Ltd, says it is aiming to sell 10,000 mt of MGO and 380 CST by the end of 2015, Platts reports.

The company has already reportedly sold 4,000 mt of both 380 CST and MGO since its Trincomalee bunkering operations began on June 25, and is aiming to increase this to 6,000 mt during its second month of operations.

Lanka IOC is said to have a capacity for 20,000 mt of 380 CST and 6,000 mt of MGO in its Trincomalee storage tanks.

Lanka IOC is currently offering 380 CST product that it says it imports through a tender process from either Singapore, Fujairah, or India.

Both types can be set for delivery within the next one or two weeks, says Lanka IOC.

Last week, it was reported that Lanka IOC had commenced bunkering operations from its Trincomolee oil terminal, which is said to provide additional bunkering options to the vessels operating in Bay of Bengal.

Lanka IOC joins CMA Sri Lanka as Platinum Sponsor for Global Management Accounting Summit 2015

Extracted from: Daily FT

Lanka IOC joined hands with CMA – Sri Lanka as Platinum Sponsor for the Global Management Accounting Summit 2015 to be held on 27-29 July at Cinnamon Lakeside, Colombo.

The Sponsorship Cheque was presented to Prof. Lakshman R. Watawala by Subodh Dakwale.

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From left: CMA Consultant L.B. Wattegedare, Lanka IOC Senior VP (Finance) Anuj Jain, Lanka IOC Managing Director Subodh Dakwale, CMA President Prof. Lakshman R. Watawala, CMA VP Basheer Ismail, CMA Council Member H.M. Hennayake Bandara and CMA Council Member Adrian Perera

 

Lanka IOC seeks tax reduction

Adapted from the Island article by Ifham Nizam

Lanka IOC has once again requested the government to either increase fuel prices or give them a tax reduction.

They had separate meetings with Finance Minister Ravi Karunanayake and Power and Energy Minister Patali Champika Ranawaka. Both ministers asked for more time, while appreciating IOC’s role here. Ministry officials told The Island that the government wouldn’t be in a position to take a decision till the energy pricing formula was introduced.  The formula is expected to come into effect after September this year.

Lanka IOC Managing Director, Subodh Dakwale yesterday contacted for comment said discussions were on but nothing had come of them. He said if the present situation continued they would take the matter up with the Lanka IOC Board. Dakwale said that, on their part, they often discussed energy conservation and on how to improve the quality.

Earlier this month, the Ceylon Petroleum Corporation recommended that the Power and Energy Ministry request the Treasury to consider a further tax reduction on fuel imports along with the forthcoming oil pricing formula. However, nothing concrete had taken place in this regard, an official said.

Due to selling fuel below market price in keeping with government policy, Lanka IOC had been suffering losses since the government ordered price reductions in fuel early this year, Dakwale said, adding that tax alone came to between 56 and 58 per cent of the cost of petrol which he called a huge by any means.

Dakwale said they believed the proposed pricing formula had to be discussed along with duty reductions. “We have suggested now that the duty be reduced in a big way as we cannot increase the price of a litre of fuel,” he added.

Lanka IOC expanding its SERVO distribution network across the country

Lanka IOC is calling upon all trusted lube distributors to join SERVO range of lubricants, the preferred choice of Sri Lankans and one of the largest selling brands in the country.

 

Download: Servo Lube Distributor Application