HYDROCARBONS AND GAS


The Panama Canal and our geographic position of the Republic of Panama is, in most of the cases, an obligatory stop for most of the international service vessels. This offers a great advantage to companies interested in participating in the hydrocarbon market, as much local as internationally.

In this sense, our country counts with eleven (11) Free Zones of Petroleum with a capacity of storage of approximately 30.7 million barrels. In these Zones, as much the nationals as the foreigners, naturals or companies, can import, process, refine, store, trade, sell, provide, export, re-export and conduct oil operations of any kind. All this duty free, whenever you export or sell to vessels that are users of the Panama Canal or the aircrafts users of the Tocumen International Airport or any other international airport.

We count in addition, with a Pipe line of 131 kilometers in length and transfers crude petroleum from the Pacific to the Atlantic. This Pipe line has a capacity of pumping of 800.000 barrels per day and 2,5 million barrels of storage in each one of its terminals, the Pacific (“Charco Azul”) and in the Atlantic (“Chiriquí Grande”).

Additionally, we offer a series of harbor facilities through the international ports located in Balboa, Roadman, Cristóbal, Charco Azul, Chiriquí Grande and Bahía Las Minas, which are equipped and with storage infrastructures, pumping, mixes and hydrocarbon transfer, among others.

In this sense, the regulatory frame of the Panamanian hydrocarbon market is it the Decree No.36 of 2003, which establishes a series of obligatory requirements in order to obtain the required concessions, permissions or registries to participate in local and international hydrocarbon market.

Between services that we rendered in this area are the followings:

  1. Obtaining petroleum free zone concessions.
  2. Obtaining of required permits necessary in order to execute the activities related to import, export, storage, sale, distribution, inspection, analysis and transfer, among others, of petroleum derived products.
  3. Registry of companies in the General Directorate of Hydrocarbons of the Ministry of Commerce and Industries of Panama.

 

Contact

María de Lourdes Marengo - mmarengo@pmalawyers.com
Nadya Price - nprice@pmalawyers.com
Khatiya Asvat - kasvat@pmalawyers.com