By: Isuru Parakrama Colombo (LNW): Sri Lanka has signed a contract agreement with Sinopec Fuel Oil parent company in China and Singapore, aiming a long-term importation, storage, distribution and sale of petroleum products. Accordingly, the agreement was inked between Sinopec Fuel Oil Lanka (Pvt) Ltd. and its parent company at the President’s Office today (22). A statement by the President’s Media Division (PMD) confirmed that negotiations have been completed with Sinopec Fuel Oil Lanka (Pvt) Ltd. and its parent company in China and Singapore in this regard. The announcement comes in as per the recommendations given by the Special Committee appointed by the Cabinet and after the negotiations with the said company.