"Alba de Nicaragua" Public Limited Corporation

ALBANISA is a group of companies with activities and interests in many sectors of Nicaragua's economy.

Tuesday, September 29, 2009

It is a mixed private company, 49% owned by Nicaraguan state petrol company "Petróleos de Nicaragua" (Petronic), while the remaining 51% is owned by its Venezuelan counterpart, "Petróleos de Venezuela" (PDVSA). It was created in 2007, as a result of Nicaragua's entry to ALBA, the Bolivarian Alliance for the Americas.

Since its inception, Albanisa has quickly diversified its operations, expanding from its initial purpose of distributing Venezuelan oil, to other sectors through the creation of different companies. It has interests in construction machinery, energy generation, security services, hotels, livestock breeding, transportation, loans, port cargo handling, and gas distribution.

An article by Luis Galeano in local newspaper "El Nuevo Diario" lists the different companies composing the conglomerate, and its connections to members of Daniel Ortega's government.

More on this topic

Nicaragua Hires First Phase of Refinery Works

April 2012

CAMC Engineering, from Mainland China, is the counterpart of a $233 million contract to build the basic storage infrastructure and the pipeline network.

The Chinese group CAMC Engineering Co., Ltd. (CAMCE) signed a memorandum of understanding for a joint venture with Alba de Nicaragua SA (Albanisa) – a Venezuelan oil importing company, to build the first phase of a refinery in Nicaragua, which will be called " El Supremo Sueño de Bolívar” (The Supreme Dream of Bolivar).

Alba Foods of Nicaragua

January 2011

Albalinisa is a Venezuelan – Nicaraguan joint venture in the frame of the ALBA treaty, with growing food exports to Venezuela.

The creation of Alba Foods Nicaragua (Albalinisa) was funded by a $ 880 000 loan approved by the National Assembly of Venezuela in late 2008. The Nicaraguan press links Albalinisa and its directors to Albanisa, the company which manages the supply of Venezuelan oil to Nicaragua.

Nicaragua and Venezuela Reactivate Oil Refinery Project

April 2010

The presidents of both countries agreed to reactivate a project to build a refinery in the northwestern region of Nicaragua.

The project was conceived back in 2007, at an estimated cost of $4 billion.

While visiting Nicaragua, Venezuelan president Hugo Chávez commented on other bilateral projects, such as “building a degasifying plant and a fertilizer processing facility”, reported Univision.com.

Grupo Alba Purchases Gas Stations in Nicaragua

September 2009

Nicaraguan Petrol Distributor (DNP), a network of 50 gas stations in the country, was acquired for an undisclosed amount.

The purchase was done by a holding company related to the family of President Ortega. Its previous owner was Swiss company Glencore, and its assets include storage tanks in Puerto de Corino, capable of 60.000 barrels.

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