The U.S. firm could explore in an area next to the exploration site of Britain's BG Group, which has already received a concession from the Government.
The U.S. company Chevron said it still intends to investigate the existence of oil and natural gas in Honduran maritime territory. The company aims to do so in an area adjacent to the place where BG Group has a concession to explore 35,000 square kilometers.
The oil company Chevron will make an offer to Honduran authorities regarding hydrocarbon exploration in the Atlantic in that country.
"Let's see what kind of proposal they bring at this opportunity. They have informed us that they have an interest in returning to Honduras to look at proposals on the development of oil projects," said Roberto Cardona, head of Natural Resources and the Environment (Serna) .
Honduras's government denies that it is negotiating with the transnational Chevron over a concession for oil exploration in the Caribbean Sea.
This was confirmed by the Minister of the Presidency, María Antonieta Guillén, after leaders of the College of Mechanical Electrical and Chemical Engineers, of Honduras (CIMEQH) denounced that negotiations were being made for the direct award of 38 thousand kilometers in the Caribbean Sea for oil exploration.
The oil company plans to invest between $40 and $50 million in increased storage capacity for liquefied petroleum gas, and improvements in the production and delivery of products.
This was stated by the company's general manager, Aristides Chiriatti, who also reported that preparations will start on September 1 for the distribution of ethanol, which represents about $10 million.
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.
Among the works developed at the site was the restoration of 26 tanks with a capacity of 711,000 barrels of various petroleum products which are sold in Honduras. In addition, infrastructure was rebuilt in the administrative area, piping systems and fire protection system.
The transnational has completed its purchase of Chevron gas stations, which operate under the Texaco brand name.
The transaction is worth over $30 million, said Cairo Amador, Executive Director at the National Institute for the Promotion of Competition, Procompetencia.
El Nuevo Diario consulted the director who said: "The transaction (the purchase of Texaco) was just completed last week, but I understand that is the first part because there is still a review period, which involves looking at all the terms and conditions imposed on that transaction. "
U.S. corporation Chevron agreed to sell its assets in Central America and the Antilles to Vitogaz.
The sale includes a network of 174 Texaco service stations, a stake in a refinery, terminals and aviation facilities as well as Chevron's commercial operation in the region.
The transaction, which amount was not disclosed, should be completed during the third quarter of 2011, after approval by local authorities.
The company’s plans include investing $2 million in building 4 new gas stations.
Mario Castellanos, general manager of Chevron Guatemala, Inc., that runs Texaco in the country, explained these investments will be executed by third parties. Currently there are 86 Texaco gas stations in Guatemala.
“Roberto Berti, Texaco distributor in Guatemala, explained that this decision is a result of more vehicles and improvements in the economy”, reported newspaper Prensa Libre.
The multinational will improve the standards of its services in the former refinery Bahia Las Minas and the service stations under concession.
The legal representative of the company in Panama, Pedro Sigui, added that the company has already invested $20 million over the last two years, and hopes to invest another $50 million over the next three.
Radiopanama.com.pa publishes: “On the other hand, the oil company announced at a press conference that it had begun the process of converting to the sale of light diesel 2D S500 which is low in sulfur and environmentally friendly.”
Chevron, Pemex, Petrobras and PDVSA would be interested in exploring and exploiting oil in Honduras.
Tomás Vaquero, Minister of Natural Resources and Environment of Honduras, said 8,000 square klilometers are being explored in the Caribbean to see if there is oil and whether it is feasible to extract it.
According to an article in laprensahn.com, if the existence of petroleum is confirmed, "the aforementioned companies would be given an opportunity to go and explore in Honduras."
US oil major Chevron announced that it will double storage capacity at its Las Minas terminal in Panama to 4 million barrels.
Las Minas, near the city of Colón, provides bunker fuel, lubricants and other crude derivatives for ships using the Panama Canal and neighboring ports.