Indian Foreign Secretary Vikram Misri urged Sri Lanka to accelerate the development of a proposed regional oil hub during high-level bilateral talks in Colombo on Sunday, warning there was "no further time to lose" on the project. The hub, centred on the northeastern port of Trincomalee (home to a British-era 99-tank oil storage complex), would involve a multi-product pipeline linking the two countries and an expanded storage facility, under a trilateral agreement signed with the United Arab Emirates in 2024. The push comes as Sri Lanka — which imports all of its oil and coal — has been forced to raise fuel and electricity prices amid global energy market disruptions triggered by the ongoing conflict in the Middle East.