Panama acquires 100% stake in Petroterminal for $191.7 million

The Government of Panama has completed the acquisition of the remaining 41% of shares in Petroterminal de Panamá, S. A. (PTP), granting the state 100% ownership of the company. The transaction, valued at approximately $191.7 million, involved the transfer of 82,000 shares and was formalized at the Ministry of Economy and Finance (MEF) with oversight from the Comptroller General of the Republic and the National Bank of Panama.

PTP operates a strategic interoceanic pipeline and oil terminals on both the Atlantic and Pacific coasts, serving as a critical infrastructure for the transport and storage of hydrocarbons. Minister of Economy and Finance Felipe Chapman stated that while ownership has changed, operational methods will remain consistent under the current administration contract, ensuring continuity and job stability for the existing workforce.

The government intends to use this full control to drive regional development, specifically targeting investment and job creation in Chiriquí, Bocas del Toro, and other western regions of the country. The acquisition was executed through a contractual right granted to the Republic of Panama dating back to 1977.