Oil find in Darién worries Panama’s green groups

To the dismay of environmentalists, Panama has discovered an estimated 900 million barrels in oil reserves in Darién Province near its border with Colombia and plans to open up bidding to international firms for further exploration by the end of the year. Panama’s Ministry of Trade and Industry announced Sept. 13 that it would move soon to exploit the oil find, confirmed in July and estimated by the government to be worth US$15 billion in taxes and royalties over the next 20 years. But the announcement has raised intense concerns among environmentalists, who point to the fragility of the Darién region, with its hundreds of species of birds and mammals, tens of thousands of Afro-Panamanian and Indian inhabitants and rich rainforests and wetlands... [Log in to read more]

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