The company AES Panama launched its liquefied natural gas storage system in the province of Colon, from where it plans to supply the entire Central American region.
This liquefied natural gas (LNG) distribution system will supply the 381 MW thermal plant located on site, also owned by AES, which began operating in August 2018.
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.
The court's pronouncement that declared legal the strike of the state fuel refiner and distributor in Costa Rica "has not been competent and introduces us into a very dangerous legal insecurity for national investment and the attraction of foreign investment."
From the statement of the Chamber of Industries of Costa Rica:
Fuels are critical and Costa Rica must be defended as well
Price of gallon of regular gasoline: Costa Rica $3.94, Nicaragua $3.47, Honduras $3.43, Guatemala $2.89, El Salvador $2.86 y Panama $2.70.
From a statement issued by the Ministry of Economy of El Salvador:
The volatility of international prices of products (gasoline and diesel) in the oil market persists, being the main factor affecting reference prices for fuels.It is worth noting that as final consumers we should be aware that the instability of oil prices andtheir fluctuations are permanent factors, making assertions and predictions about future prices unpredictable, however in the current fortnight trends in international prices have been caused by the following events:
Price of gallon of regular gasoline: $2.51, Guatemala $2.79, El Salvador $2.74, Honduras $3.15, Nicaragua $3.32, and Costa Rica, $3.82.
From a statement issued by the Ministry of Economy of El Salvador:
The rise in prices of oil products has been affected by a weakening of the dollar as a currency, as well as fires in Canada, instability in the region producing oil and its derivatives in Nigeria; and a series of suspensions of operations at refineries over fears of a possible hurricane heading towards the Gulf of Mexico, and added to this are supply disruptions in different parts of the world which have elevated international prices causing instability, confirming the volatility in the oil market, leading to abrupt price changes which are becoming impossible to predict, directly hitting the reference prices of liquid fuels in El Salvador.
Price of a gallon of regular gasoline: Panama $2.34, El Salvador $2.48, Guatemala $2.44, Nicaragua and Honduras, $3.17 and Costa Rica, $3.77.
From a statement issued by the Ministry of Economy of El Salvador:
New variations with a downward trend which occurred in this week, are due to the significant drop in prices of derivatives and oil, which are caused by the results of the latest OPEC meeting, where member countries reached an agreement on a maximum ceiling for oil production and maintaining the overabundance of supply, coupled with the fact that Iran will join the market next year, once the West has removed the sanctions that it imposed sanctions over its nuclear program. These factors lead to oversupply causing a decline in reference prices.
The State fuel distributor wants to include the cost of refining carried out in the country in fuel prices, even though it has not refined anything since 2011.
From a statement issued by the Chamber of Industries of Costa Rica:
• RECOPE wants to include the cost of refining carried out in the country in with fuel prices, even though it has not refined anything since 2011.
Price of a gallon of regular gasoline: $2.49 Panama, El Salvador $2.60, $2.62 Guatemala, Nicaragua $3.22 Honduras $3.26 , Costa Rica $3.78.
From a statement issued by the Ministry of Economy and Trade of El Salvador:
El Salvador is in first place with the lowest gasoline prices and in second place for lowest diesel prices in Central America.
The Ministry of Economy announced on October 26 that the reference prices for gasoline, effective from October 27 to November 9, 2015, will experience reductions of up to - $0.05, it is worth mentioning that this is the seventh consecutive reduction in prices of regular and special gasoline ; while diesel has once again registered a slight decrease.
Costa Rica's state oil company has announced an agreement with China to incorporate into the design of an oil refinery "production of biofuels and green fuels as a fundamental linchpin of operations".
EDITORIAL
Several years ago Costa Rica became embroiled in a serious problem after signing contracts with the Chinese government and Chinese companies for the financing and construction of an oil refinery.
Price of a gallon of regular gasoline: Panama $3.30, El Salvador $3.39, Guatemala $3.55, Honduras $4.03 , Nicaragua $4.06, and Costa Rica $5.03.
From a statement issued by the Ministry of Economy in El Salvador:
During the month of November, the price of WTI (West Texas Intermediate) in the Gulf Coast of the United States had an average value of $75.07 per barrel, a decrease of -4.70% compared to the previous month.
Price of a gallon of regular gasoline: Panama $3.25, El Salvador $3.56, Guatemala $3.56, Nicaragua $4.06, Honduras $ 4.11, and Costa Rica $4.99.
Excerpted from a statement issued by the Ministry of Economy of El Salvador:
During the month of November, the price of WTI (West Texas Intermediate) in the Gulf Coast of the United States had an average value of $75.34 per barrel, a decrease of -4.40% compared to the previous month.
Gallon of regular gas: $3.43 Panama, Guatemala $3.70, $3.82 El Salvador, Nicaragua $4.07, Honduras $4.33 and Costa Rica $5.16.
Excerpted from a statement by the Ministry of Economy of El Salvador:
In October, the price of WTI (West Texas Intermediate) in the Gulf Coast of the United States had an average value of $79.39 per barrel, a decrease of -6.29% compared to the previous month.
Price of a gallon of regular gas: Panama $3.91, Costa Rica $5.43, Nicaragua $4.89, Honduras $4.61, Guatemala $4.04, El Salvador $4.06.
From a press release issued by the Ministry of Economy of El Salvador (Minec):
The Ministry of Finance announced on August 18, new variations in the reference prices for fuel, which will be in effect from 19 August until 1 September 2014.
Gallon of regular gas: Costa Rica $5.17, Nicaragua $4.86, Honduras $4.75, Guatemala $4.22, El Salvador $4.17.
From a statement issued by the Ministry of Economy in El Salvador:
The Ministry of Finance announced on June 23 new variations on the reference prices for fuel, which will be effective from 24 June to 7 July 2014.
During the month of June 2014, the price of WTI (West Texas Intermediate) in the Gulf Coast of the United States had an average value of $98.52 per barrel, showing an increase of +4.99% compared to the previous month. For its part, the international prices of petroleum products showed the following changes in the past few weeks: +2.04% in the price of premium gasoline, +2.0% in the price of regular gasoline and +0.33% in the price of diesel.