Panama: Colon Refinery Starts in April

The project under the name Energy Center of the Americas includes refineries, marine installations, petrochemical plants and storage terminals.

Monday, March 2, 2009

It is expected to start activities in 2011 and the initial phase of the project has a cost of $1.3 billion.
Henry Jimenez, vice president of CELA, told "We hope to begin the first phase of the project which is to be carried out in the Atlantic in April. However, first we have to ensure contracts and licenses, which we do not foresee any obstacles in getting, with the Panamanian Maritime Authority (AMP), the Department of Energy and the National Environmental Authority (ANAM)."

More on this topic

Qatar Refinery Project Brought Up Again

July 2009

Negotiation between Panama, Qatar Petroleum and Occidental Petroleum for the construction of a $8 billion refinery will restart in September.

Qatar Petroleum and Occidental Petroleum had until December 2008 to present the final study for the refinery, which was first negotiated in May 2007.

Nicaraguan Refinery Studies Presented

April 2009

It was announced that the Supremo Sueño de Bolivar (Bolivar’s Ultimate Dream) refinery will now be located on the Miramar coast and not in Nagarote.

The industrial petroleum complex project still has feasibility, environmental impact and viability studies pending.

According to, the president of Albanisa, Rafael Paniagua, said: "We have the location for a complex that would include the refinery and a port and it has 800 hectares in total. We are in the visualization phase of this project and the investment that we are going to make is on a loan basis under the terms of the Bolivarian Alternative for the Americas (ALBA).”

Panama: Cela Energy Park has a Partnership Agreement with Singapore

March 2009

The Energy Center of the Americas (Cela) signed an alliance with the Jurong Company to look for investors.

Jurong Consultants executive vice president, Er. HEE Ah Mui, informed "As specialists in this type of activity and based on the company’s experience in the development of a project in Singapore similar to the one in Panama, they are convinced that they can attract large, multinational companies from the energy sector to invest in Panama. This is a very ambitious project worth hundreds of millions of dollars, and we are confident that, like Singapore, Panama will not be left behind."

Construction of refinery in Nicaragua fades

December 2008

After the Venezuelan president placed the cornerstone and there were some movements of dirt, the project seems to have been abandoned.

The $250 million that Venezuela supposedly approved at the end of last year to start the first phase of the project at Piedras Blancas in the municipality of Nagarote, appears to be literally a "dream", despite the fact that officials from the governments of Nicaragua and Venezuela had announced with fanfare that the project, known as "the Supreme Dream of Bolivar", would be completed in four years, starting in January 2008.

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