• Most Popular
  • Most Shared

Chevron to up bunker capacity in Panama

Wed May 14, 2008 7:27pm EDT

Stocks

   

PANAMA CITY, May 14 (Reuters) - U.S. petroleum major Chevron (CVX.N) said on Wednesday it will double storage capacity at its Las Minas facility in Panama to 4 million barrels, to meet growing demand for fuel derivatives in Central America.

Stocks

Las Minas, near Panama's Caribbean coastal city of Colon, provides bunker fuel, lubricants and other derivatives for ships using the Panama canal and nearby ports.

In statement, issued ahead of a meeting with Panama government officials on Thursday, Chevron said it has plans to double the capacity in the short term, and potentially further after that.

Chevron has already invested $13 million to increase capacity at Las Minas, one of several Chevron facilities in the country, to the equivalent of 2.04 million barrels. (Reporting by Andrew Beatty; Editing by Leslie Adler)

Stocks


More from Reuters

Ex-wife sues SAC's Cohen, alleges insider trading

NEW YORK/BOSTON (Reuters) - Hedge fund magnate Steven A. Cohen was accused by his former wife on Wednesday of hiding millions of dollars from her and of engaging in insider trading in a high-profile merger in the 1980s.

» More Top News
An an exit sign is pictured in New York City October 14, 2006. REUTERS/Lucas Jackson
Interview:

No stimulus exit in sight

The man who predicted the fallout from the property bubble says it's still too early to talk about exiting easy money policies. In fact, more stimulus is on the way.  Full Article 

ECONOMY
The tail section of the turboprop MQ-9 Predator B drone is seen on the tarmac at Fort Huachuca, Arizona, December 5, 2006.

Just don't say the D-word

In the high-testosterone world of military jets, the words "drone" and "unmanned aerial vehicle" don't fly. Now there's a new term in town.  Full Article 

AEROSPACE & DEFENSE SUMMIT