In 2002, began in Panama the Colombian and Venezuela Oil supply refinery project with a 300,000 BPSD.
The objective of This project is to supply fuel in North American region and a 1.3 MMTPY ethylene plant. Filled a 16-month engineering feasibility study, in 2009 marketing studies in Houston Technology by Lummus.
In 2022, Petroholland, based on regional oil and gas supply, will reactivate the refinery reconstruction project in Panama for the export of fuel to United States and nationwide due to the strategic location of the refinery.