A U.S. petroleum company signed an agreement with Sri Lanka on Thursday allowing it to import and sell fuel in the country, less than a month after Chinese petroleum giant Sinopec also acquired rights to enter the retail market, as the Indian Ocean nation grapples with an economic and energy crisis.
RM Parks Inc. signed the agreement in collaboration with Shell and will be able to import, distribute and sell petroleum products for 20 years, the Power and Energy Ministry said.
