Site Meter
Send Us An Email
Panama Guide

Welcome to Panama Guide
Tuesday, April 25 2017 @ 12:31 PM EDT

The Government Seeks To Become Independent From Foreign Oil

Oil and Gas ExplorationA draft bill seeks to prepare the ground for companies interested in oil exploration in Panama.

Panamanian businessmen said it must be ensured that they meet environmental standards.

Law 8 from 1987 is amended with this draft bill, and covers the collection of royalties from companies receiving concessions for oil exploitation.

They emphasize the need of protecting the communities near exploration sites.

The Energy Department says studies conducted by the company OTS Latinoamerica confirmed the existence of oil in Darien, by the basins of Garachine-Sambu and Bayano-Chucunaque. (TVN)

Share
  • Facebook
  • Google Bookmarks

Story Options

The Government Seeks To Become Independent From Foreign Oil | 0 comments | Create New Account
The following comments are owned by whomever posted them. This site is not responsible for what they say.