Latin America

Panama to jump on biofuel bandwagon with new refinery

The Central American country has announced plans to develop a state-of-the-art refinery to produce biofuels for the aviation sector. Biofuel production represents an area of growing opportunity for Latin America

biolfuels Panama's President Laurentino Cortizo arrives for the Cop26 summit at the Scottish Event Campus (SEC) in Glasgow. Picture date: Monday November 1, 2021.
President Laurentino Cortizo of Panama arrives for the COP26 summit at the Scottish Event Campus (SEC) in Glasgow. Photo: PA Images/Alamy

After sustaining a strong economic recovery in 2021 due to the reactivation of its interoceanic Canal, for which revenue from transits totaled USD 3.9 billion in the last fiscal year, Panama has announced a new project that seeks not only to keep the economic momentum going but also to do so in tune with the world’s environmental needs. 

On May 18, Panama’s government confirmed a four-year plan to develop a state-of-the-art biorefinery that would help the country to invest in and develop a local industry for low-carbon aviation fuel. The announcement was made alongside major local energy companies and is...

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