Panama: Free Trade Zone for Fuel by Year End

The free trade zone in Colón, located by the port of Manzanillo, will be operated by the European company Oiltanking.

Thursday, August 12, 2010

"The Panamanian company Colon Oil and Services, S.A. (Coassa) installed four tanks, pipelines and pumping infrastructure on the site with an investment worth $14 million. The site will be managed by a European company with which negotiations are underway," reports Prensa.com.

The new operator will invest around $20 million in expanding the site's storage capacity from 300,000 bunker barrels to 1.1 million.

More on this topic

Supply Plant to Begin Operations in April

February 2011

The fuel storage facility of Acajutla, El Salvador, will begin operations in April.

Spokesmen for Alba Petróleos de El Salvador, said that completion of the works is scheduled for February, and will last until March. The construction of the pipeline for ship loading and unloading is still pending.

Texaco-Chevron to Invest $12 Million in Panama

May 2009

The oil company will install a fuel loading platform and improve the existing three in Las Minas Bay in Colón.

The current government has had several exchanges with the transnational, demanding improvement of the company’s operations at the Colón facilities.

Raul Bernal write in Prensa.com: "For its part, the oil company has said on other occasions that changes every 14 days in fuel prices are causing distortions in natural demand when buyers change their orders to take advantage of prices."

Storage Facility Ready in January 2011.

September 2010

The finalization of surface works will mean the Acajutla fuel storage depot will be operational at the beginning of 2011.

The company Alba Petróleos is responsible for the project. Vice president, Luz Estrella Rodríguez, indicated that the work completed is the land area carried out by the company Montajes Electromecánicos de Centro América (Monelca).

More Investment From Puma Energy in El Salvador

January 2015

The company received the authorization to expand the jet fuel plant in Comalapa and plans to invest $20 million between 2015 and 2016 to improve the capacity of the plant in Acajutla.

Expansion of the terminal near the Comalapa airport will cost approximately $1 million and will allow for storage of up to 16,000 barrels of jet fuel to meet demand from the airlines with which it holds contracts.

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Tuthill Transfer Systems

Organization that operates in Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua and Panama.
Phone: (52) 55-5370-0602

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