President Ricardo Martinelli has announced that concessions for prospecting and exploring oil and natural gas will be awarded before the end of year.

Laestrella.com.pa reports that “The President addressed the issue when speaking about the interest that his administration has in getting more companies interested in investing in the production of sugar and ethanol in Panama.”

“… The Panamanian president expressed interest in other businesses investing in this field in the near future, so as to make it possible to lower the cost of ethanol. ”

Referring to prospecting and exploration of oil and natural gas, the president said: “I hope there are interested companies, who will pay the state, and that there is lots of creativity in order to avoid these types of problems.”

Source: estrelladepanama.com