Chevron to double storage capacity at Panama terminal
US oil major Chevron announced that it will double storage capacity at its Las Minas terminal in Panama to 4 million barrels.
Wednesday, May 14, 2008
Las Minas, near the city of Colón, provides bunker fuel, lubricants and other crude derivatives for ships using the Panama Canal and neighboring ports.
The plant located in Puerto Cortes, which had been seriously affected by the earthquake of 2009, now has capacity to store 71,000 barrels of fuel.
Suez Energy aims to invest US$650 million in various power-generation projects that should come on stream by 2010.
Spain's Murcia region opened an office in Panama City in a bid to boost trade and investment.
French investment in Panama has reached $600 million and is projected to reach $1 billion in 2010.
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