Sri Lanka's Power and Energy Minister Kanchana Wijesekera announced this week that his country held talks with the Indian Oil Corporation (IOC) regarding a proposed multi-product oil pipeline.

The proposed multi-product pipeline will connect Nagapattnam, India, to Trincomalee Tank Farm and Colombo in Sri Lanka.

Speaking at a press conference, Wijesekera said the initial discussions took place during the India Energy Week in Goa, where he met with IOC officials.

The Prime Minister emphasized that further feasibility studies are necessary, including technical assessments, demand analysis, financial evaluations, and business model reviews, before any concrete decisions can be made.

"We also explored the potential for investments and expansion of joint ventures between the two nations," Wijesekera stated, highlighting the existing collaboration between Ceylon Petroleum Storage Terminal Ltd. (CPSTL) and Lanka IOC (LIOC) in Trincomalee.

The meeting saw participation from the heads of IOC, LIOC, Ceylon Petroleum Corporation (CPC), and the Petroleum Development Act Secretariat Ltd. (PDASL).

The proposed pipeline, if realized, could potentially enhance Sri Lanka's energy security and bolster bilateral ties with India. However, it remains in the early stages of discussion, and its feasibility and potential impact require further evaluation.