Texaco will Invest $ 18 million in El Salvador

The company will invest in remodeling and building gas stations as well as improving their storage facilities.

Tuesday, October 26, 2010

Carlos Reyes, manager of the company, said the investment is projected for the next ten years.

"The response from Reyes arose as a consequence of comments made by a spokesman of a retail fuel distributors association which said Tuesday that Texaco and Esso were selling their shares in order to leave Central America due to increased market share by Albapetróleos and China´s intention of building a refinery in Costa Rica to serve the entire region," writes Daniel Choto in Elsalvador.com.

More on this topic

Puma Energy Invests in Panama

February 2015

The company aims to increase its market share in the country and plans to invest $80 million in the construction of a fuel storage facility.

The company is preparing to build its own infrastructure in order to increase its business in the Panamanian market. Besides the construction of the plant, Puma Energy is looking to venture into new lines of business, such as selling jet fuel and asphalt manufacturing and lubricants.

Panama to Build Free Zone for Fuels on Isla de Melones

February 2012

The company Melons Oil Terminal Inc will operate and manage a Fuel Free Zone capable of storing 2 million barrels of oil.

A press release from the Presidency of Panama reads:

The Cabinet Council has authorized the Minister of the Presidency on behalf of the State to finalise a contract with the company Melons Oil Terminal Inc., for the operation and administration of a Fuel Free Zone capable of storing 2 million barrels of oil .

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).

Refinery Invests $9 Million in Panama

February 2010

Refpan refinery, located in Colón, will build a new fuel loading area.

Ramón Betancourt, CEO of Refpan, owned by Chevron-Texaco, explained they'll increase loading capacity by 30%.

"Construction will start on March 2009, and would be ready on early 2011", reported Pa-digital.com.pa.

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