Qatar Refinery Project Brought Up Again

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

Monday, July 20, 2009

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

"Juan Urriola, Energy Secretary, said that 'negotations will start from scratch'", published Pa-digital.com.pa, "given that both companies lost their rights last December, deadline for delivery of the final study".

The refinery would be constructed in Puerto Armuelles, in the Chiriquí province, "and could refine some 350.000 barrels a day".

More on this topic

Lack of Pre-Feasibility Studies for Refinery

September 2012

Weaknesses have been pointed out in the project to build a refinery in Costa Rica in partnership with China, such as the lack of studies on the benefits that it will bring in the economic field.

In an article in Elfinancierocr.com by Juan Antonio Rodriguez the author reveals a differences of opinion on the concept of "prefeasibility", with the Minister Rene Castro, head of MINAET, Ministry of Environment and Energy of Costa Rica.

Feasibility Study Underway for Costa Rica – China Refinery

May 2010

Soresco (a joint venture between Costa Rica’s Recope and China’s CNPC) will hire a company to develop the refinery’s feasibility studies.

Such study will determine if the countries go forward with the $1 billion project. China requires the project to have at least a 16% return on investment.

Martinelli Looking for Investor in Refinery

February 2010

The Panamanian President will visit its Qatari equivalent to promote an $8 billion refinery in the Port of Armuelles.

He will meet on February 28 with Emir Sheik Hamad Bin Kalifa Al-Thani, who has expressed interest in investing in a refinery in Panama.

In the meeting, they will discuss the project, which, according to the feasibility studies, could output 360.000 daily barrels of petroleum.

Panama hopes to build refinery

September 2008

Panama is hoping to seal the deal with Qatar and Occidental Petroleum (Oxy) before the end of 2008 to build a refiner.

Qatar and Occidental Petroleum have until 31 December 2008 to present the final version of the project and to make a decision, according to the stipulations of the Memorandum of Understanding signed in May 2007 between the governments of Panama and Qatar, said the Minister of Trade, Carmen Gisela Vergara.

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