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Australia’s United Petroleum finalises entry into Sri Lanka Source : dailymirror Australia’s United Petroleum has completed formalities in acquiring the licence to enter into Sri Lanka’s retail petroleum products market. Power and Energy Ministry Secretary Dr. Sulakshana Jayawardena and United Petroleum Australia owner Eddie Hirsch have signed the relevant contract, at an event organised by the Power and Energy Ministry, the company announced in a statement. United Petroleum was the last of three foreign players granted approval to complete the formalities of the government.  The government decided to award licences to China’s Sinopec, United Petroleum and U.S-based RM Parks in collaboration with Shell PLC, to enter into the retail market, ending the duopoly market enjoyed by Ceylon Petroleum Corporation (CPC) and India’s IOC.  Both Sinopec and RM Parks completed the formalities within the following two months, while Sinopec has already commenced operations. Under the arrangement, United Petroleum will be assigned with ...