CA Oil Purchase Up 5.4% in 2009

The total purchases came to $ 7,467.6 million, 5.4% higher than in 2008.

Tuesday, October 19, 2010

Data was supplied by CEPAL in their report "Central Hydrocarbons Statistics, 2009." informed, "According to the numbers, in 2009, 112.9 million barrels were imported, of which 87% were petroleum products and the remaining 13% corresponded to crude oil imports. Also according to data, oil purchase in 2009 was 34% and 13% lower than in 2008 and 2007 respectively ...".

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Current Oil Situation in Guatemala

October 2015

At the end of August 2015 production was 2.4 million barrels, 2.5% less than in the same month in 2014, mainly because of lower investment on the part of operators.

Low international oil prices are the main reason that companies drilling and extracting oil in the country have reduced their investments and therefore their production, taking advantage of the situation to carry out maintenance work in the fields.

El Salvador Joins Petrocaribe

June 2014

There is still no official information about whether brand name distributors will be able to keep importing fuel from their source of choice.

The request for entry into the oil agreement with Venezuela marks the economic and political differences between the outgoing government of Mauricio Funes and that of the new President Sanchez Ceren, indicating a higher affinity for the conglomerate led by Venezuela.

Price Caps to be Maintained in Panama

June 2009

The new government will continue with the price cap system implemented in September 2008 to regulate fuel prices.

The intention of the Organization of Petroleum Exporting Countries (OPEC) to press for oil prices to reach $75 per barrel at the end of 2009 is a major reason to give continuity to the price cap system set in 2008 when the price of fuel in Panama almost reached $5.

Petroleum bill for the Isthmus increased 42.8% in 2008

December 2008

The bill for the Central American Isthmus will increase to 42.8% at the end of this year compared to 2007, according to data from Cepal.

In 2008 the figure will be $12.25 billion, while last year it was $8.6 billion, according to the analysis.

Victor Hugo Ruiz, economic affairs officer at Cepal, explains that said increase was due in part to the rise in international oil prices, although the volume of imports also increased.

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