CONTROL OF OIL
Ceylon Govt. Decision (N.Z, Press Assn—Copyright) COLOMBO, June 30. The Ceylon Minister of Commerce, Mr Tikiri Ilangaratna, has told three oil companies operating in Ceylon that their storage tanks and installations should be handed over to the Govern-ment-sponsored Ceylon Oil Corporation as early as possible. Mr Dangaratne said in a letter to the companies that this step was being taken under the provisions of the Petroleum Corporation Act. This gives the Government power to take over property belonging to oil companies. The Ceylon Oil Corporation is hoping to buy oil from Russia and the United Arab Republic. Negotiations are already in progress.
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Bibliographic details
Press, Volume C, Issue 29554, 1 July 1961, Page 8
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105CONTROL OF OIL Press, Volume C, Issue 29554, 1 July 1961, Page 8
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