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Panama's Plethora Of Refinery Deals Could Make It A Global Energy Hub

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Please use this identifier to cite or link to this item: http://hdl.handle.net/1928/12080

Panama's Plethora Of Refinery Deals Could Make It A Global Energy Hub

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Title: Panama's Plethora Of Refinery Deals Could Make It A Global Energy Hub
Author: Mike Leffert
Subject: oil
consortium
DuTemp
ControlSud
Ecosel
EDC
Occidental Petroleum
President Martin Torrijos
Panama Canal
plasma arc
technology
ecological
waste
emission
natural gas
reserves
crude
greenhouse
Guatemala
Plan Puebla Panama
PPP
President Felipe Calderon
Reliance Industries Limited
RIL
thermoelectric
power
Jamnagar
Chevron
PEMEX
Dow
Venezuela
Abstract: Panama has signed accords that will make the country home to two new oil refineries. A consortium composed of US-based DuTemp, ControlSud of Luxemburg, and Ecosel of Colombia has signed a deal that creates the Panamanian company EDC. The company will invest US$6.5 billion in a plant that will produce an estimated 250,000 barrels per day (bpd) of gasoline. The ink was hardly dry on that deal when officials signed another with Occidental Petroleum and the country of Qatar to build a 350,000-bpd refinery at a cost of US$8 billion, as President Martin Torrijos looked on. The price tag on each of these plants is more than the US$5.25 billion to be spent on the Panama Canal expansion. The EDC plant is to be something of a gem, a state-of-the-art exercise that will incorporate plasma arc technology to make it, say the promoters, nearly pollution free. Said Alberto Grosso, president of ControlSud International, "The construction of this refinery will bring Panama to greatest importance in Central America and in the world as an energy hub." Sergio Barreto, architect of the plant, said, "It is an ecological refinery with a design that allows us to achieve 100% full conversion, without waste or emissions."
Date: 2007-05-24
Publisher: NotiCen
URI: http://hdl.handle.net/1928/12080


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