Panama Moves to Full State Ownership of Petroterminal de Panamá

The Panamanian government has begun acquiring 100% of Petroterminal de Panamá (PTP) shares, consolidating national control over one of the country's most critical strategic infrastructures. The state will acquire the remaining 41% of private shares, making the Republic of Panama the sole owner of PTP, a key platform for the nation's logistics and energy development.

This acquisition is being executed through a contractual right established in 1977. The government emphasized that the transaction will not require funds from the national treasury or incur public debt. Instead, the acquisition will be financed by PTP's own generated income and cash flows, ensuring that the value created by the company directly benefits the state and its citizens.

The process is designed to maintain the stability of existing jobs, ensure continuity of supplier contracts, and guarantee the efficient provision of services to PTP's clients. This initiative aligns with President José Raúl Mulino's strategy to strengthen strategic assets under Panamanian control, increase state revenue, and reinforce national sovereignty amid geopolitical challenges impacting vital sectors.

Officials clarified that this is not a unilateral modification of contractual terms or an expropriation, but rather the exercise of a purchase option agreed upon by all shareholders since the company's inception. The acquisition price will be determined according to the methodology outlined in the "Association Contract," using a pre-agreed formula based on audited financial statements, ensuring objective and verifiable valuation criteria.