Royal Dutch Shell agreed to lease capacity at a large oil terminal in Panama that has been used by U.S. refiner Tesoro Corp, sources involved in the deal told Reuters, gaining much-needed storage for its crude operations. The facility, designed for storage and transshipment of oil, is owned by Petroterminal de Panama and provides up to 14 million barrels of storage capacity, a pipeline network that connects the Atlantic and Pacific oceans, and docks for very large tankers. “We have signed a contract with Shell for a three-year period involving all the available space we have,” said an official from the Panamanian government. It remained unclear when the contract would start and the capacity involved, but the source said the deal will soon be submitted to the Finance Ministry’s board of […]