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STO confirms arrival of delayed jet fuel stock

Mohamed Rehan
17 July 2022, MVT 09:40
The joint-press conference by STO and MACL to highlight the challenges faced in fuel acquisition and procurement--
Mohamed Rehan
17 July 2022, MVT 09:40

State Trading Organization (STO) confirms arrival of the company's delayed jet fuel stock.

The largest state-owned enterprise's Managing Director Mr. Hussain Amru has corroborated the news, claiming the tanker carrying the fuel stock has berthed at the commercial harbor.

The news comes as relief for Maldives Airports Company Limited (MACL) which had been plighted over releasing jet fuel to airliners with restraints owing to exponential demand growth against availability.

Moreover, this abrupt and steep upwards momentum in the demand for jet fuel from Velana International Airport (VIA), managed by MACL, risen in light of Sri Lanka's decision to cease any fuel support for airliners amid their ongoing economic drivel.

Sri Lankan airports discontinued plane refueling services owing to non-availability and scarcity of oil and fuel in the country, adding to the political and economical repercussions of the country due to apparent "mis-governance", poor economic management and crisis aversion.

Earlier, MACL had reported the demand surge reflected on the quantity of fuel supplied to airlines which had risen from 10,000 liters per day to approximately 40,000 liters per day.

Despite the hike for fuel demand at VIA, the airport is challenged with lack of storage infrastructure which according to its operator will be resolved to an extent following the opening of the new fuel farm by September 2022.

The new farm will relatively increase the overall fuel storage capacity in the airport, as it was reported that the farm holds the net storage capacity of 45 million liters worth of jet fuel.

The current farm's capacity maxes out at 15 million tons while with the addition of the new farm, the capacity is expected to reach 60 million tons.

Previously in September 2021, MACL faced a similar plight of almost running out of jet fuel stock in VIA which had been the result of delays in stock arrival; much like this time.

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