Asia

Shell re-enters Sri-Lanka

Published on 01-04-2024 at 12:57

Sri Lanka is recovering from a severe financial crisis. Shutterstock

Shell will re-enter the Sri Lankan fuel retail market later this year. The have just signed a deal with RM Parks (Private) Limited, which is a partnership of the Tristar Group.

Tristar is a fully integrated energy logistics business serving the downstream oil and gas industry. Shell is set to rebrand an existing network of 150 retail fuel stations across the country.

“This collaboration with RM Parks and Tristar is a great example of how we are bringing Shell’s quality products and services to new markets”, said István Kapitány, Global Executive Vice President of Shell Mobility.

Shell will operate the fuel stations (sometimes with adjacent carwash) for an initial period of 20 years. The first rebranded stations are expected to open in the third quarter of 2024.

Economic crisis

Sri Lanka has been hit hard by an enormous financial crisis. After a terrorist attack and the following pandemic, tourism imploded completely. The political unrest in the country also didn’t help. In many parts of the country, fuel is still rationed.

Shell is currently present in over 80 markets with around 47,000 mobility locations serving around 33 million customers every day.