Four Companies Interested in Honduran Oil

Chevron, Pemex, Petrobras and PDVSA would be interested in exploring and exploiting oil in Honduras.

Monday, March 30, 2009

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, if the existence of petroleum is confirmed, "the aforementioned companies would be given an opportunity to go and explore in Honduras."

More on this topic

Honduras To Suspend Oil Exploration Permits

February 2011

The Ministry of Natural Resources issued a decree that would suspending exploration permits and exploitation of hydrocarbons.

The measure would apply while the new law is passed, which regulates the exploration and exploitation of hydrocarbons.

The initiative by the Secretary of Natural Resources and Environment (SERNA) justified the decision on the far too small tax collected by the State of Honduras, figure which is far below international standards, reported

Honduras: Oil exploration to start in February

January 2009

The first ship from the Petroleum Geo-Services (PGS) company will arrive at Puerto Cortes to carry out oil exploration. reports: "The PGS representative in Honduras, Marco Flores, announced that they will continue with exploration in order to find out which parts of Honduras have more petroleum.

Honduras signs agreement for oil exploration

December 2008

Petroleum Geo Services will carry out studies within 10 kilometers with the territorial waters of Honduras, and will have licenses to explore for crude.

PGS will invest in the study which will cost $23 million, and this would be recovered later by selling the studies to any of the firms that have shown interest in carrying out explorations.

Thirty companies show interest in exploring for oil in Honduras

July 2008

Some 30 companies, including Brazil's Petrobras, have shown interest in exploring for oil in Honduras, said Tomás Vaquero, the minister for natural resources and the environment.

Vaquero said that the first contracts to be signed would aim to identify exploration targets both onshore and offshore.

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