The oilopoly and the lack of action
Five oil companies control the fuel business in Panama and it appears that they have had the protection of the last two governments acco...
Five oil companies control the fuel business in Panama and it appears that they have had the protection of the last two governments according to Luis Espósito Picardi, a representative of the gas stations and Geovany Fletcher of a consumer group.
Both are questioning the role of certain civil servants, who they believe, are not controlling the way oil companies operate in the country, and are one way or another related to multinationals.
For example the current Hydrocarbon director of the Ministry of Commerce once worked with Shell and the former Minister of Commerce, Alejandro Ferrer belonged to a law firm specializing in oil business.
“The five sisters” as they are called have been sued on several occasions for monopolistic practices, but the lawsuits have not prospered, mainly because of lack of evidence.