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| by prensa.com |
Delta Petroleum reached an agreement with Shell to acquire all its assets and operations in Panama.
“In a transaction which were not disclosed financial terms for confidentiality reasons,” said a statement from Llorente & Cuenca.
The CEO of Delta Petroleum, Augusto Gerbaud, said the company will continue its operation model, which is very similar to that of Shell.
“Both companies operate gas stations, but in his scheme there is also a large number of dealers and managers of independent service stations, which also encourages local investment and competition in the market,” said Gerbaud.
Gerbaud said that because of the transaction, which is subject to verification prior to a favorable opinion of the Authority for Consumer Protection and Competition “Petróleos Delta has no plans to close any station, as we are committed to continue meeting and ensuring the security of supply to final consumers in the country. “