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Puma Energy

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Puma Energy
Company typeMajority-owned subsidiary
IndustryOil and gas
Founded1997 (acquired 2000)
Headquarters
Singapore
Area served
Latin America
Africa
Baltics
Middle East
Asia
Australia
Key people
Graham Sharp (Chairman)
Pierre Eladari (CEO)
ProductsPetroleum products
ServicesRefinery, distribution and retail
Number of employees
5,000
ParentTrafigura Beheer BV
Websitewww.pumaenergy.com

Puma Energy is a mid- and downstream oil company, a subsidiary of the commodity trading multinational Trafigura Beheer BV.[1] Its operations span 37 countries across five continents and encompass the supply, storage, refinery, distribution and retail of a range of petroleum products.[2][3]

The firm was founded in Central America in 1997 as an oil storage and distribution network,and is now active in Latin America, Africa, the Baltics, the Middle East, Asia and Australia.[4][5] It was acquired by Trafigura in 2000 . In 2010 the firm announced the acquisition of five retail companies from BP Africa.[6] Since then it has acquired further fuel marketing assets in Central America, the Caribbean, Southeast Asia and Australia.[7][8]

The firm owns and operates more than 1,500 service stations and 3.8 million cubic metres (24 million barrels) of oil storage facilities.[8][9] The company employs over 5,000 staff and is headquartered in Singapore with regional hubs in Geneva, Johannesburg, San Juan and Tallinn.[10][11]

Activities by region

Africa

The firm has operations in twelve West, Central and Southern African countries.[3] It entered the African market in Congo-Brazzaville in 2002 before expanding into Ghana. Mozambique, Nigeria, Ivory Coast, the Democratic Republic of Congo, and Angola as one of the largest investors in the sub-Saharan downstream sector.[12][13] In September 2011 Puma completed the deal to acquire BP's downstream interests in Namibia (100%), Botswana (100%), Zambia (75%), Malawi (50%) and Tanzania (50%) for US$296 million.[14] The deal handed the company a portfolio of retail assets across the five countries, comprising commercial and aviation fuel, lubricants, over 190 service stations, several storage depots and an import terminal.[15]

The Botswana business accounted for a significant share of the total price and marked the first time thefirm had entered a landlocked African country, giving the firm a cross-continental presence from Namibia to Mozambique.[16] Also in 2010 the firm formed an alliance with Castrol to distribute lubricant brands in the new Southern African markets, as well as Angola and the Democratic Republic of the Congo.[17] In 2012 the firm acquired two 5,000 cubic metres (180,000 cu ft) import terminals for liquefied petroleum gas in Benin and Senegal.[18][19] In 2012 the company entered the East African retail market with a special focus on Rwanda, Kenya. Uganda, Ethiopia, and Burundi[20]

Central America and the Caribbean

In 2010 Puma Energy formed its regional subsidiary, Puma Energy Caribe, which bought Caribbean Petroleum Corporation's fire-damaged fuel depot in Puerto Rico and 147 Gulf-branded service stations.[7] In March 2012 the firm acquired ExxonMobil's downstream businesses in Guatemala, El Salvador, Honduras, Nicaragua, Panama, and Belize, establishing it as one of the region's largest petroleum companies.[8] In Nicaragua the firm has 40% of the retail market as well as an oil refinery in Managua, acquired from Exxon, with a capacity of 19,500 barrels per day (3,100 m3/d).[8]

In July 2012 the firm purchased Chevron's fuel distribution and storage businesses in Puerto Rico and the United States Virgin Islands. The assets include 192 Texaco service stations, an aviation fuel supply and storage tanks with a combined capacity of 430,000 barrels (68,000 m3).[7] A further acquisition from ExxonMobil was made in November 2012 by the purchase of Esso Standard Oil's supply and marketing business in the Dominican Republic.[21] In February 2013 Puma Energy and Castrol formed a new partnership to market Castrol lubricants in all six of Puma's Central American markets as well as Paraguay.[17]

Southeast Asia

In July 2012 Puma Energy announced its acquisition of Singapore-based Chevron Kuo Pte, owner of a 70% share of Chevron Bitumen Vietnam – an importer and distributor of asphalt for infrastructure projects in Vietnam. The deal was completed in November 2012.[22] Thus, the firm expanded its activities into the global bitumen market.[23]

In October 2012 Indonesian oil and gas company MedcoEnergi signed an agreement with Puma Energy to sell a 64% stake in its liquid-fuel storage and distribution subsidiary, PT Medco Sarana Kalibaru (MSK).[24] MSK's downstream assets include a 22,700 cubic metres (800,000 cu ft) high speed diesel (HSD) storage facility in Jakarta as well as transport infrastructure and a distribution network for supplying fuel to mining companies in Sumatra and Kalimantan.[25]

Australia

In January 2013 Puma Energy bought Neumann Petroleum in Queensland, Australia, in a deal that included a chain of 125 service stations and an $18 million bulk seaboard fuel terminal in Brisbane.[26] In February 2013 the firm doubled its number of Australian petrol stations with the acquisition of Ausfuel from Archer Capital for $652 million, becoming the country's largest independent fuel retailer.[27] In February 2013 it bought Central Combined Group, the largest independent fuel marketer in central Queensland.[28]

Ownership

In September 2011 Trafigura announced that it would sell a 20% stake in Puma Energy to Sonangol Holdings, a subsidiary of Angola's state-owned oil company.[29] Other private investors own a further 15% of Puma Energy.[10] In December 2012 the Financial Times reported that Trafigura had designated 2014 as the 'earliest' date for a public offering of Puma Energy, with London the most likely market.[10] A Reuters article that week quoted a company statement saying that Puma Energy was "well funded by its existing shareholders" and had "no immediate needs to go to the public markets"and that an IPO was "one of various options at some point in the future".[30]

Sports sponsorships

Puma Energy sponsors a number of sporting events in Africa including the Zambia International Rally.[31] In 2012 the firm sponsored the Malawi Open Tennis Championship.[32] In 2012, the firm joined forces with an insurance company Madison General to sponsor Zambian national rally champion Mohammed Essa.[33] The two firms renewed their sponsorship of Essa in February 2013.[34]

References

  1. ^ Enano, Ray (30 May 2012). "Dubai investor's plan may doom Shell's Asian refinery hub option". Dubai News. Retrieved 17 April 2013.
  2. ^ "Puma Energy International B.V." New Statesman. Retrieved 17 April 2013.
  3. ^ a b "KenolKobil, Puma deal seen done in a few months". Reuters. 8 May 2012. Retrieved 17 April 2013.
  4. ^ "Puma Energy". Petrol Plaza. 23 January 2013. Retrieved 17 April 2013.
  5. ^ "Trafigura Boosts Vertical Integration With BP Retail Asset Purchase". Oil and Gas Insight. November 2010. Retrieved 17 April 2013.
  6. ^ "BP sells African assets to Puma Energy for £296m". The Telegraph. 15 November 2010. Retrieved 17 April 2013.
  7. ^ a b c "Puma caps buy of Chevron in PR, USVI". Caribbean Business. 1 August 2012. Retrieved 17 April 2013.
  8. ^ a b c d Rogers, Tim (7 June 2012). "Puma pumped on Nicaragua". The Nicaragua Dispatch. Retrieved 17 April 2013.
  9. ^ "Puma Energy to acquire Ausfuel for US$648 million". Oil Trends. Retrieved 17 April 2013.
  10. ^ a b c Blas, Javier (18 December 2012). "Trafigura's Puma IPO slated for 2014". Financial Times. (subscription required). Retrieved 17 April 2013.
  11. ^ "Puma Energy becomes largest Australia Independent Fuel Retailer". Aus Fuel Gull. Retrieved 17 April 2013.
  12. ^ Duddy, Jo-Mare (16 November 2011). "Trafigura, Sonangol clinch BP deal". The Namibian. Retrieved 17 April 2013.
  13. ^ Heita, Desie (14 September 2011). "Namibia: Puma Buys Caltex". The Nigerian Daily. Retrieved 17 April 2013.
  14. ^ "BP gets $296m for African marketing businesses". Sharecast. 15 November 2010. Retrieved 17 April 2013.
  15. ^ "BP to sell African downstream businesses to Trafigura". ArgusMedia. 15 November 2010. Retrieved 17 April 2013.
  16. ^ Mguni, Mbongeni (19 November 2010). "BP deal leaves govt in the cold". Mmegi Online. Retrieved 17 April 2013.
  17. ^ a b "Puma Energy, Castrol, Extend Partnership to Central and South America". Petrol World.com. 6 February 2013. Retrieved 17 April 2013.
  18. ^ "Puma Energy Buys LPG Terminal in Benin". LNG World News. 19 April 2012. Retrieved 17 April 2013.
  19. ^ "Puma Energy Acquires LPG Terminal In Senegal". Ventures. 4 July 2012. Retrieved 17 April 2013.
  20. ^ Majyambere, Gertrude (11 May 2012). "Puma energy buys into Kenolkobil". Ventures. Retrieved 17 April 2013.
  21. ^ Perez, Maximo (14 November 2012). "Dicen Esso vendió sus negocios en RD". Al Moment (in Spanish). Retrieved 17 April 2013. {{cite news}}: Unknown parameter |trans_title= ignored (|trans-title= suggested) (help)
  22. ^ "VIETNAM: Puma Energy completes acquisition of Chevron Kuo and bitumen businesses in Hanoi and Ho Chi Minh". EnergyAsia. 2 November 2012. Retrieved 17 April 2013.
  23. ^ "Trafigura's Puma buys into Chevron's Vietnam bitumen asset". Reuters. 18 July 2012. Retrieved 17 April 2013.
  24. ^ "Indonesia's Medco to sell stake in liquid fuel unit to Puma Energy". Reuters. 11 October 2012. Retrieved 17 April 2013.
  25. ^ "INDONESIA: MedcoEnergi, Puma Energy starts up fuel trading and distribution business". Energy Asia. 12 December 2012. Retrieved 17 April 2013.
  26. ^ Foster, Sophie (23 January 2013). "Having bought up 125 independent Matilda petrol stations, Puma stalks fuel giants". Energy Asia. Retrieved 17 April 2013.
  27. ^ "Trafigura to Spend $68 Million on Australian Import Terminal". Hellenic Shipping News. 5 February 2013. Retrieved 17 April 2013.
  28. ^ Shumsky, Tatyana (28 February 2013). "Trafigura's Puma Energy Snaps Up Central Combined Group". The Wall Street Journal. Retrieved 17 April 2013.
  29. ^ "Sonangol takes 20 per cent stake in Puma Energy". Cross-border Information. 7 October 2011. Retrieved 17 April 2013.
  30. ^ "Trafigura's Puma Energy says no immediate IPO plans". The Financial Times. 16 December 2012. Retrieved 17 April 2013.
  31. ^ Mazeko, Ignatius (11 May 2012). "Puma Energy Zambia International Rally blasts off". Moto Cross. Retrieved 17 April 2013.
  32. ^ "Puma Pumps K2M into Tennis". Face of Malawi. 9 October 2012. Retrieved 17 April 2013.
  33. ^ Kapembwa, Darious (14 April 2012). "Essa gets Puma Energy, Madison sponsorship deal". The Post Newspapers. Retrieved 17 April 2013.
  34. ^ "Essa,Puma and Madison seal deal". Sai Life Sport. 27 February 2013. Retrieved 17 April 2013.
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