Ceylon Petroleum Corporation

Ceylon Petroleum Corporation

Company type	Government-owned corporation
Industry	Oil and gas
Founded	1962; 62 years ago (1962)
Headquarters	CEYPETCO House, 609 Dr Danister De Silva mawatha, Colombo 9 , Sri Lanka
Number of locations	1,302 (2019)
Area served	Sri Lanka
Key people	Mohamed Uvais Mohamed (Chairman)
Products	Petroleum Natural gas Motor fuel Aviation fuel Petrochemical Lubricate
Production output	280,000 bbl/d (2021)[1]
Revenue	Rs 531 billion (2020)[2]
Operating income	Rs 44 billion (2020)
Net income	Rs 1 billion (2020)[2]
Total assets	Rs 349.69 billion (2020)[3]
Total equity	Rs −529 billion (2020)[2]
Owner	Government of Sri Lanka
Number of employees	2,616 (2019)[3]
Parent	Ministry of Petroleum Resources Development
Subsidiaries	Litro Gas
Website	ceypetco.gov.lk

Ceylon Petroleum Corporation, commonly known as CEYPETCO (CPC), is a Sri Lankan oil and gas company. Established in 1962 and wholly owned by the Government of Sri Lanka, it is the largest oil company in Sri Lanka. It was formed in 1961 by nationalisation and expropriation of all private oil companies in Sri Lanka at the time of its formation.^[4] It is under the ownership of Ministry of Petroleum Resources Development headquartered in Colombo. It is the largest government owned company in the country, with an operational profit of Rs. 33.9 billion for the financial year 2020.^[5]

CPC provides a substantial source of income for the Sri Lanka government, with 30% of the government's budget dependent on the company's dividend. In December 2018, CPC became Sri Lanka's most loss government corporation of the second consecutive years, with a record loss of Rs. 326 billion at the end of 2018.^[6]