So far this year Chevron has invested $8 million in the opening of three stations and plans to start expanding the storage terminal in Acajutla.
The project to expand the storage terminal operating in Acajutla consists in increasing capacity"... by about 150 thousand barrels of fuel with the operation of two other tanks which will come online next year." Currently the plant has six tanks for diesel and gasoline, with a storage capacity of 300,000 gallons.
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.
The transnational companies may be preparing the sale of assets in Honduras, El Salvador and Guatemala.
From El Salvador, the executive director of the Salvadoran Association of Distributors of Petroleum Products (ASDPP), Julio Villagran, told Prensa Libre by telephone that Exxon executives began negotiations for the sale of assets in El Salvador and Guatemala during last December.
The multinational claims to have a long-term plan for investments in the country.
Carlos Reyes, general manager of Texaco in El Salvador, told La Prensa Gráfica, "It is true that we are going to leave the service station business, our strategy is to make the sale of fuel a profitable business for both Texaco and for Salvadoran entrepreneurs working with us.”
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."
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