Lanka IOC, a subsidiary of Indian Oil Corporation (IOC) in Sri Lanka has refuted claims that delay in its shipment was the reason behind fuel shortage in the island nation. <br/><br/>LIOC said in a statement late night that it caters to only 16 percent of country's fuel supply and has ordered a 15 thousand Metric Tonne (MT) of petrol from India to meet the crisis. <br/><br/>The company said it distributes around 600 MT of petrol on daily basis through its sheds and still has 3500 MT of buffer stock. <br/><br/>It said large shortages can only be caused by disruption in distribution network of the Ceylon Petroleum Corporation, which handles rest of the distribution. <br/><br/>The statement came as Petroleum minister and unions on Monday blamed the company for shortage of petrol in the country. <br/><br/>Petroleum authorities had turned away a LIOC shipment of gasoline last month saying it was contaminated.<br/><br/>Meanwhile, people formed long queues for fuel for fifth day today despite government's assurances that there is sufficient supply and next shipment will be arriving tomorrow.