Oil Sanctions Cut Iran's Supplies, Cause Temporary Shutdown of Sri Lankan Refinery

JOHANNESBURG--October 30, 2012--Written by Richard Finlayson, Senior International Editor for Industrial Info Resources (Sugar Land, Texas)--The effects of Western sanctions on Iran, which are hitting the country hard, are also affecting foreign customers of the country's oil. One of those companies is Ceylon Petroleum (CP) (Colombo), which has announced plans to temporarily close down its 50,000-barrel-per-day Sapugaskanda refinery, following a shortage of supplies of Iranian crude, which are being strangled by the sanctions.