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.
Tender conditions are being prepared for a contest which will be launched in the coming months for the construction of sewers and installation of water storage tanks in Puerto Mutis, Veraguas province.
In addition to the water works, the Panama Maritime Authority (AMP) said it plans to build a naval base to provide greater safety for tourists visiting the area.
The state run oil company has announced it will build a third storage tank for A-1 Jet fuel at the International Airport in Liberia.
From a statement issued by the Government of Costa Rica:
RECOPE's plant at the Daniel Oduber airport currently has a storage capacity of 10,000 barrels.
New tank will have a capacity to store 5,000 barrels.
Daniel Oduber International Airport in Liberia, recorded the highest growth in entry of international tourist arrivals vias airports in Costa Rica, according date from the Costa Rican Tourism Institute (ICT) for 2014.
The rise in prices and fuel supply problems in markets like Colombia explain the 10% increase in sales of bunker fuel in the first half of the year.
After experiencing a slight decrease in the rate of business growth, companies engaged in the storage and sale of marine or bunkerfuel say they feel there is an improvement in the activity. In previous years, vessels transiting the Canal were buying fuel in Colombia and other Caribbean countries.
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 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.
Costa Rica's state oil company has announced an agreement with China to incorporate into the design of an oil refinery "production of biofuels and green fuels as a fundamental linchpin of operations".
Several years ago Costa Rica became embroiled in a serious problem after signing contracts with the Chinese government and Chinese companies for the financing and construction of an oil refinery. Beyond the affordable price of the project, which was not backed by studies indicating what the impact would be on end fuel prices for Costa Rican consumers, serious "questions, irregularities and allegations" over the project arose, as outlined in an article on Crhoy.com.
The Spanish company DF Duro Felguera in Panama will be building a terminal for oil storage for the company Vopak in Bahia Las Minas, province of Colon.
From a statement issued by DF DURO FELGUERA:
DF has been awarded, through its subsidiary Felguera IHI, a contract for the execution of a fuel supply terminal for ships and oil storage at Bahia Las Minas (Colon Province), on the Atlantic coast of Panama. The client is Vopak, one of the largest independent operators in the world in bulk liquid storage.
Businessmen from the sector are complaining about continued delays in the discussion of legislation regulating the marketing and pricing in the fuel distribution business.
Lack of consensus last year among all companies in the sector for importing and distributing fuels regarding the opening of gas stations led to the draft law intended to regulate the sector not getting to Congress for discussion ..