Financial Ports

Panama seizes $191.7m oil corridor to bypass its own canal

CLAVE 1 / 4Panama has paid $191.7m for the remaining 41% stake in Petroterminal de Panamá, achieving full state ownership.

CLAVE 2 / 4The 131 km transisthmus pipeline links terminals at Chiriquí Grande (Caribbean) and Charco Azul (Pacific), bypassing the Panama Canal.

CLAVE 3 / 4The system handles 10 million barrels of crude and petroleum products monthly, with VLCC capability at Charco Azul.

CLAVE 4 / 4Existing operations and contracts will continue unchanged, financed by Petroterminal’s own revenues and future cashflows.

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