Panama: Investment in Fuel Storage

In a joint venture with Global SLI, the company specializing in VTTI energy storage acquired a 75% stake in the Petroamérica terminal on the Pacific coast.

Thursday, January 26, 2017

From a press release issued by VTTI:

VTTI B.V. (“VTTI”), the global independent provider of energy storage, today announces an acquisition of a 230,000 m³ facility in Panama, resulting in a joint venture between VTTI and Global SLI. This deal sees VTTI take a 75% interest in PetroAmerica Terminal, S.A. (“PATSA”), a terminal strategically located on the Pacific side of the country, close to the Panama canal, with a wide range of refined products storage.

VTTI’s expertise and knowledge of the industry as well as its international network will further strengthen the central role PATSA plays in supplying domestic and international markets and enhance its multiple potential growth opportunities. PATSA is a highly regarded regional terminal company with an excellent operating track record.



More on this topic

Energy: Projects for $600 million

January 2019

The construction of an oil pipeline and a maritime terminal in the Pacific for the transfer and storage of fuels, are some of the projects planned to develop the state-owned Recope in the next eight years in Costa Rica.

The construction of a new plant for storage and sale of clean products in Liberia, and the polyduct connecting this plant with Barranca, is one of the large-scale projects that the Costa Rican Petroleum Refinery (Recope) plans to develop in the coming years.

Fuel Company Changes Hands

September 2017

Puma Energy has announced the purchase of 100% of the capital stock of the Panamanian company Tropifuels, which operates Tropigas fuel service stations throughout the country.

In a statement the company dedicated to the distribution of oil and gas explained that with the acquisition of Tropifuels S.A.

Guatemala: Fuel Plant Bought for $20 million

October 2015

The multinational Maple Resources Corporation has acquired the fuel plant operating in Puerto San Jose, called Terminal Carburantes de Centroamérica.

The US company which operates internationally also announced that in the next five years it will invest $10 million more in operating the fuel terminal.

470 thousand liters of fuel to be transported by road

January 2009

An electricity project by the ICE in Costa Rica will cause 20 tankers of fuel to be transported daily between Limon and Puntarenas by road.

According to nacion.com, "The fuel will be used to supply the Garabito Electrical Plant which his being built by the ICE at Montes de Oro next to the Inter-American Highway

 close (x)

Receive more news about Energy

Suscribe FOR FREE to CentralAmericaDATA EXPRESS.
The most important news of Central America, every day.

Type in your e-mail address:

* Al suscribirse, estará aceptando los terminos y condiciones


Tailor made software for construction companies

O4Bi is a system that allows to control and manage what a company needs: the complete process of development of works, accounts receivable, treasury, banks, sales and accounting.
O4Bi is a very robust system that allows to control and...

Stock Indexes

(Apr 6)
Dow Jones
-5.60%
S&P 500
-5.10%
Nasdaq
-5.64%

Commodities

(Mar 30)
Brent Crude Oil
26.59
Coffee "C"
118.00
Gold
1,646
Silver
14.265