CPC Petitions Ministry over “Grossly Misleading” $286 Crude Oil Pricing Report; Broadcaster Accused of Violating Licensing Conditions. Advertiser’s officially pull out as controversy brews.
Hiru TV, operated by Asia Broadcasting Corporation (Pvt) Ltd., is facing a major regulatory crisis after the Ceylon Petroleum Corporation (CPC) formally accused the broadcaster of airing “maliciously false” information regarding national fuel procurement.
In a strongly worded letter dated April 20, 2026, addressed to the Secretary of the Ministry of Health and Mass Media, the CPC Chairman called for an immediate investigation into a news segment aired on April 16. The report claimed that Sri Lanka had purchased crude oil at a staggering USD 286 per barrel, a figure the CPC says was fabricated through the “intentional distortion” of international market data.
“Intentional Distortion”
The CPC, which holds the sole legal authority to import crude oil into Sri Lanka under Act No. 28 of 1961, clarified that actual procurement prices for March and April stood between USD 66.99 and USD 71.99 per barrel.
“The broadcaster appears to have taken the price of refined diesel which spiked globally due to Middle Eastern tensions and presented it as the price paid by the CPC for crude oil,” a senior CPC official stated.
The corporation further alleged that despite issuing a formal media release to correct the record, Hiru TV persisted with the narrative. The broadcaster reportedly claimed an “HSBC official” had confirmed the $286 price, a statement the CPC insists was taken out of context to create a “national state of alarm.”
A Pattern of Conduct
This is the second high-profile legal challenge for the network in less than two months. In March 2026, the Court of Appeal delivered a landmark ruling involving Hiru TV, asserting that private broadcasters are “public authorities” subject to the Right to Information (RTI) Act.
Legal experts suggest that this latest incident could be viewed as a “habitual breach” of media ethics. “The court has already established that using public airwaves carries a legal duty to verify facts,” said a constitutional lawyer. “Repeating such significant errors could jeopardize their broadcasting license.”
Calls for Regulatory Action
The CPC has requested the Ministry of Mass Media to:
• Investigate License Violations: Determine if the broadcast breached the fundamental conditions of the station’s operating license.
• Issue Directives: Establish strict guidelines for reporting on sensitive national economic data.
• Accountability: Ensure the broadcaster is held responsible for potential public unrest and reputational damage to state institutions.
“This is not just an error; it is a serious misuse of media freedom that threatens economic stability,” the CPC letter noted.
As of press time, Asia Broadcasting Corporation has not issued a formal rebuttal to the CPC’s allegations. The Ministry of Mass Media is expected to convene a preliminary inquiry later this week.
