The Ceylon Petroleum Corporation was set up as a state enterprise by Act. No.28 of 1961 in Parliament and further amendments carried out subsequently.
The main objectives of the Ceylon Petroleum Corporation are the following:
To carry on business as an importer, exporter, seller, supplier and distributor of Petroleum products.
To carry on business of exploring for the exploiting, producing, and refining of Petroleum and to carry on any such business as may be incidental or conducive to the attainment of the objectives.
To be the premier customer driven, environmental friendly, enterprise in the petroleum and related industries in the region while contributing towards the prosperity of our nation.
To achieve excellence in refining, sales and marketing of high quality products and meet the expectations of the stakeholders through a dedicated team of professionals and a loyal & efficient dealer network and by providing total solutions and services exceeding customer expectations, while utilizing a high technology base for growth and development of the enterprise with total employee participation and innovation, by maintaining high ethical norms in all its activities and with highest concern for health, safety and environment.
|1962||The Corporation commenced business in competition with other Oil Companies who were operating in the country at that time.|
|1964||The Ceylon Petroleum Corporation took over the entire business of import, sale and distribution of petroleum products within the country.
The Kolonnawa Oil Installation, regional bulk depots and retail outlets which operated under three different oil companies prior to nationalization was subject to several transformations and improvements of their facilities to perform its operations as one entity. Since then, new bulk depots / retail outlets were constructed and storage capacity of Kolonnawa Installation & regional depots were increased. A Fire & Safety Division was set up in Kolonnawa Installation with the introduction of a new fire hydrant systems and the internal road network was improved to facilitate operational and maintenance activities. The gantry filling facility was improved to suit replenishment of large capacity bowsers introduced in mid 90’s.
|1968||To ensure regular supplies and conserve foreign exchange, the Corporation built a 38,000 BPD Refinery at a cost of Rs. 175 Million|
|1969||The refinery commenced production. The refining capacity was subsequently increased to 50,000 BPD by increasing the crude distiller capacity in 1979. Another important project that was completed in the same year was the installation of Lubricating Oil Blending Plant at the Kolonnawa Installation. The Corporation entered in to the Agrochemical business in competition with the private sector, with a view to market agro chemicals at competitive prices.|
|1971||The Bunkering operations at the Ports and Aviation Re-fuelling activities were integrated in to the Corporation by further amendments to the CPC Act.|
|1978||The Corporation built a factory to manufacture Nylon 6 yarn for textile, tires & finishing industries at a cost of Rs. 603 Million.|
|1987||In order to reduce freight on crude oil and to meet the development plans of the Colombo port, a Single Point Buoy Mooring (SPBM) facility was installed 9.2 Kilo metres off shore Colombo Port. The project was commissioned in 1987 together with an intermediate crude oil storage tank farm at Orugodawatte at a total cost of Rs.1,764 Million.|
|1992||The Corporation took further steps to modernize the Refinery and increase its efficiency by revamping the crude distiller unit in 1992 at a cost of Rs. 250 Million.|