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.
This week the company CLH Aviación started providing fuel supply services at Tocumen air terminal in Panama.
After having won the tender to supply fuel and lubricants at Tocumen International Airport and regional terminals in 2017 for a period of 120 months, the company CLH Aviación stated that it has successfully started providing operations and maintenance servicesand supplying fuel at the air terminal.
In the Panamanian airport, 600 thousand gallons of jet fuel are consumed every day, and it is estimated that in the following months demand will increase by 50 thousand gallons.
The current capacity of the infrastructure only allows for storage of 1.4 million gallons of jet fuel, which is only enough to cover demand corresponding to two days of operations at the airport.
In the first nine months of the year, 2.8 million barrels of marine fuel were sold, 38% more than was sold in the same period in 2016.
According to figures from the Panama Maritime Authority (AMP), the sale of marine fuel during the first three quarters of 2017 increased by 38% in year-on-year terms, rising from 2 million barrels between January and September 2016 to 2.8 million barrels in the same period in 2017.
Total fuel storage capacity in the country is 29.8 million barrels, with Petroterminal de Panama´s tank representing 50% of the figure.
Panama has a storage capacity of 29.8 million barrels of oil, according to the latest report from the country's National Energy Secretariat.
The Fuel Free Zone (ZLC by its initials in Spanish) Petroterminal de Panama occupies almost half of the total capacity, through its two tank estates: Charco Azul in Chiriqui, which has a capacity of 7.5 million barrels, and Chiriqui Grande in Bocas del Toro, with a capacity of 7 million barrels. Both store oil and oil derivatives.
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.
As a hub of maritime services Singapore is winning the race against Panama, which in the past sold 60 million tons of bunker fuel but now only sells 20 million.
This represents a 40% decline in the 'bunkering' market in Panama, due to several factors, including lack of competitiveness in fuel prices not being oil producer.
The president of the Maritime Chamber of Panama, Juan Carlos Croston, told Panamaamerica.com.pa that "a few decades ago ... Panama was the world's leading supplier of bunker fuel, but today Singapore, thanks to the introduction of policies which promoted competitiveness, accounts for almost 40% of the market. "
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.
Although the market is not growing significantly, there is still investment being made in new terminals for the storage and supply of the fuel.
"Recently the fuel terminal Melones, located in the Pacific and rated by experts as "state of the art" went into operation. The investment in this project has been estimated at between $60 million and $90 million.
The initial $43 million 12 storage tank project on the island in the Pacific has increased to 16 tanks with an investment of almost $60 million.
The project, which is 60% complete, is being developed by Burkell Holding Inc. and includes a loading pier for shipping fuel.
"The scope of this project has widened from what was originally planned. To begin with 12 storage tanks of various sizes were planned and now 16 units will be constructed.