Puma Energy – Wikipedia

Puma Energy is a Singaporean multinational mid- and downstream oil company, majority-owned by the Singaporean Trafigura and the Angolan Sonangol Group.[3]

Its operations span over 47 countries across five continents and encompass the supply, storage, refining, distribution, and retail of a range of petroleum products.[4][5][6]

The firm owns and operates more than 2,500 service stations and 7.9 million cubic metres (50 million barrels) of oil storage facilities.[7][8] The company employs over 7,600 staff and is headquartered in Singapore with regional hubs in Geneva, Johannesburg, San Juan, Brisbane, and Tallinn.[9][10][11][12]


The Puma brand was created in Argentina in 1929 by Compañía General de Combustibles (CGC). CGC was founded in 1920 to transport and market crude oil and its by-products around the country. By the end of the decade CGC was operating its own-brand service stations in Argentina under the Puma brand. Between 1930 and 1996 Puma brand’s profile in the Argentinian market increased through an expansion in the number of retail sites and investments in advertising. The Puma brand soon travelled further afield after CGC established Puma service stations in Ecuador, in order to supplement its crude oil exploration activities.[13]

In 1997 Trafigura purchased the rights to the Puma brand ushering in a new phase of development for Puma. The “new” firm was founded in Central America in 1997 as an oil storage and distribution network, and is now active in Latin America, Africa, Europe, the Middle East, Asia, and Australia.[14][15] It was acquired by Trafigura in 2000. In 2010 the firm announced the acquisition of five retail companies from BP Africa.[16] Since then it has acquired further fuel marketing assets in Central America, the Caribbean, Southeast Asia, and Australia.[17][18]

On 1 July 2020 Chevron Australia Downstream Pty Ltd, a wholly owned subsidiary of Chevron Corp., announced that it has completed the acquisition from Puma Energy Asia Pacific B.V. of all shares and equity interests of Puma Energy (Australia) Holdings Pty Ltd for the amount of AU$425 million.[19]

Activities by region[edit]


The firm has operations in nineteen West, Central and Southern African countries.[20] 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.[21][22] 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.[23] 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.[24]

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.[25]

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.[26] In 2012 the firm acquired two 5,000 cubic metres (180,000 cu ft) import terminals for liquefied petroleum gas in Benin and Senegal.[27][28]

In 2015 the firm expanded its operations in South Africa through the acquisition of Brent Oil and Drakensberg Oil’s local retail assets and lubricant business. The firm currently has 145 retail sites in South Africa.[29][30]

In 2016 Puma Energy delivered its first cargo of bitumen in Nigeria under a joint venture with Wabeco Petroleum Ltd.[31]

Latin America[edit]

Puma Energy fuel terminals in Guatemala

In 2010 Puma Energy formed a regional subsidiary, Puma Energy Caribe, which bought Caribbean Petroleum Corporation’s fire-damaged fuel depot in Puerto Rico and 147 Gulf-branded service stations.[17] 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.[18] 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 20,000 barrels per day (3,200 m3/d).[18]

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).[17]
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.[32] 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.[26]

In March 2015 Puma Energy purchased all the assets of the Colombian fuel storage and distribution firm Save Combustibles, including 135 service stations. The deal was the company’s first acquisition in Colombia.[33]


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.[34] Thus, the firm expanded its activities into the global bitumen market.[35]

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).[36] 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.[37]

Puma Energy forecourt in Brisbane, 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.[38] 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.[39] In February 2013 it bought Central Combined Group, the largest independent fuel marketer in central Queensland.[40]

In June 2014 Puma Energy acquired InterOil Corp (IOC)’s Napa Napa oil refinery, 52 service stations and 30 fuel depots, terminal and aviation sites in Papua New Guinea for $526 million.[41]

In November 2014 Puma Energy opened the Langsat Bitumen Terminal, a 74,000-tonne bitumen storage facility in Johor, Malaysia.[42]

In October 2015 Puma Energy signed a joint-venture agreement with Myanmar government-owned Myanmar Petroleum Products Enterprise (MPPE) to form National Energy Puma Aviation Services (NEPAS). The new entity will distribute aviation fuel to 11 airports across Myanmar.[43]

In December 2019, Puma Energy agreed terms to sell its Australian operations to Chevron. Subject to gaining regulatory approval, the deal is expected to close in mid-2020.[44]


In March 2015 Puma Energy made its first acquisition in the United Kingdom, purchasing the disused Milford Haven Refinery in Wales from Murphy Oil subsidiary Murco Petroleum for use as a fuel storage site.[45]

In 2016 Puma Energy signed a purchase agreement with BP to buy its bulk storage fuel terminal in Belfast, Northern Ireland.[46]


Trafigura is Puma Energy’s biggest shareholder, with a 49% stake. Sonangol Holdings, a subsidiary of Angola’s state-owned oil company, owns 28% of the company, with a further 15% owned by Cochan Holdings LLC. The remaining minority shares are owned by private shareholders.[47] The latest transaction in November 2013 (sale of 10% of the share capital of the company) valued Puma Energy at around $5 billion.[9]

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”.[48]

Despite being controlled by Trafigura, Puma Energy is not financially consolidated to its biggest shareholder.

Puma Energy sponsors a number of sporting events in Africa including the Zambia International Rally.[49] In 2012 the firm sponsored the Malawi Open Tennis Championship.[50] In 2012, the firm joined forces with an insurance company Madison General to sponsor Zambian national rally champion Mohammed Essa.[51] The two firms renewed their sponsorship of Essa in February 2013.[52]


  1. ^ “Puma Energy”. www.pumaenergy.com. Retrieved 19 April 2017.
  2. ^ “Puma Energy expands global team”. Reporting Oil and Gas. 30 August 2016. Retrieved 3 November 2016.
  3. ^ Puma Energy. Ownership and shareholders, pumaenergy.com; retrieved, 31 December 2015.
  4. ^ “Puma Energy UK”. Energy, Oil & Gas. March 2017. Retrieved 19 April 2017.
  5. ^ “KenolKobil, Puma deal seen done in a few months”. Reuters. 8 May 2012. Retrieved 17 April 2013.
  6. ^ “Oil firm Puma Energy expands operations in Zimbabwe”. expogr.com. 15 March 2016. Retrieved 3 November 2016.
  7. ^ “Puma Energy boasts strong cash flow in 2016 results”. Petrol Plaza. 13 March 2017. Retrieved 19 April 2017.
  8. ^ Wood, John (11 November 2016). “BP sells Belfast terminal to Puma”. Forecourt Trader. Retrieved 19 April 2017.
  9. ^ a b Hume, Neil (24 November 2013). “Trafigura raises $500m from sale of 10% Puma stake”. Financial Times. (subscription required). Retrieved 13 December 2013.
  10. ^ a b Blas, Javier (18 December 2012). “Trafigura’s Puma IPO slated for 2014”. Financial Times. (subscription required). Retrieved 17 April 2013.
  11. ^ “Puma Energy announces its Papua New Guinea growth plans”. PetrolPlaza. 2014-11-26. Retrieved 8 January 2015.
  12. ^ “Argus Africa Roads Sponsors”. Argus Media. Archived from the original on 12 February 2018. Retrieved 19 April 2017.
  13. ^ Puma brand history
  14. ^ “Puma Energy”. Petrol Plaza. 23 January 2013. Retrieved 17 April 2013.
  15. ^ “Trafigura Boosts Vertical Integration With BP Retail Asset Purchase”. Oil and Gas Insight. November 2010. Archived from the original on 11 November 2013. Retrieved 17 April 2013.
  16. ^ “BP sells African assets to Puma Energy for £296m”. The Telegraph. 15 November 2010. Retrieved 17 April 2013.
  17. ^ a b c “Puma caps buy of Chevron in PR, USVI”. Caribbean Business. 1 August 2012. Archived from the original on 11 November 2013. Retrieved 17 April 2013.
  18. ^ a b c Rogers, Tim (7 June 2012). “Puma pumped on Nicaragua”. The Nicaragua Dispatch. Retrieved 17 April 2013.
  19. ^ “Chevron acquires Puma Energy”. 2020-07-01. Retrieved 2020-05-13.
  20. ^ “Puma Energy’s profit up 5%”. Reporting Oil and Gas. 30 August 2016. Retrieved 3 November 2016.
  21. ^ Duddy, Jo-Mare (16 November 2010). “Trafigura, Sonangol clinch BP deal”. The Namibian. Retrieved 17 April 2013.
  22. ^ Heita, Desie (14 September 2011). “Namibia: Puma Buys Caltex”.
  23. ^ “BP gets $296m for African marketing businesses”. Sharecast. 15 November 2010. Archived from the original on 30 June 2013. Retrieved 17 April 2013.
  24. ^ “BP to sell African downstream businesses to Trafigura”. ArgusMedia. 15 November 2010. Retrieved 17 April 2013.
  25. ^ Mguni, Mbongeni (19 November 2010). “BP deal leaves govt in the cold”. Mmegi Online. Archived from the original on 25 June 2016. Retrieved 17 April 2013.
  26. ^ a b “Puma Energy, Castrol, Extend Partnership to Central and South America”. Petrol World.com. 6 February 2013. Archived from the original on 30 June 2013. Retrieved 17 April 2013.
  27. ^ “Puma Energy Buys LPG Terminal in Benin”. LNG World News. 19 April 2012. Retrieved 17 April 2013.
  28. ^ “Puma Energy Acquires LPG Terminal In Senegal”. Ventures. 4 July 2012. Retrieved 17 April 2013.
  29. ^ “Puma Energy targets South Africa for growth”. Petrol World. 24 February 2016. Retrieved 3 November 2016.
  30. ^ Njobeni, Siseko (2 February 2017). “Puma set to pounce on SA fuel market”. IOL. Retrieved 19 April 2017.
  31. ^ Alike, Ejiofor (13 September 2016). “Puma Energy delivers first bitumen to Nigeria”. This Day. Retrieved 19 April 2017.
  32. ^ Perez, Maximo (14 November 2012). “Dicen Esso vendió sus negocios en RD” [Esso sold its business in the Dominican Republic]. Al Moment (in Spanish). Archived from the original on 2 March 2014. Retrieved 17 April 2013.
  33. ^ Perez, Maximo (20 March 2015). “Puma Energy llega a Colombia” [Puma Energy arrives in Colombia]. El Tiempo (in Spanish). Retrieved 19 June 2015.
  34. ^ “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.
  35. ^ “Trafigura’s Puma buys into Chevron’s Vietnam bitumen asset”. Reuters. 18 July 2012. Retrieved 17 April 2013.
  36. ^ “Indonesia’s Medco to sell stake in liquid fuel unit to Puma Energy”. Reuters. 11 October 2012. Retrieved 17 April 2013.
  37. ^ “INDONESIA: MedcoEnergi, Puma Energy starts up fuel trading and distribution business”. Energy Asia. 12 December 2012. Retrieved 17 April 2013.
  38. ^ Foster, Sophie (23 January 2013). “Having bought up 125 independent Matilda petrol stations, Puma stalks fuel giants”. Energy Asia. Retrieved 17 April 2013.
  39. ^ “Trafigura to Spend $68 Million on Australian Import Terminal”. Hellenic Shipping News. 5 February 2013. Archived from the original on 3 July 2013. Retrieved 17 April 2013.
  40. ^ Shumsky, Tatyana (28 February 2013). “Trafigura’s Puma Energy Snaps Up Central Combined Group”. The Wall Street Journal. Retrieved 17 April 2013.
  41. ^ Paton, James (30 June 2014). “Puma Enters Papua New Guinea With $526 Million InterOil Deal”. Bloomberg L.P. Retrieved 6 December 2014.
  42. ^ “Puma Energy starts its Langsat bitumen terminal”. New Straits Times. 6 November 2014. Retrieved 6 December 2014.
  43. ^ “MPPE joins with Puma Energy to distribute jet fuel”. Consult Myanmar. 26 May 2016. Retrieved 19 April 2017.
  44. ^ Chevron to Acquire Puma Energy’s Australia Business Machinery Lubrication
  45. ^ “Puma Energy buys UK’s Milford Haven refinery site for oil storage”. Reuters. 14 March 2015. Retrieved 19 June 2015.
  46. ^ “Puma Energy acquires BP’s Belfast terminal”. Fuel Oil News. November 2016. Retrieved 19 April 2017.
  47. ^ “Moody’s affirms Puma Energy’s CFR at Ba2, upgrades the rating on the notes to Ba2, stable outlook”. Moody’s Investors Service. 31 October 2016. Retrieved 19 April 2017.
  48. ^ “Trafigura’s Puma Energy says no immediate IPO plans”. The Financial Times. 16 December 2012. Retrieved 17 April 2013.
  49. ^ Mazeko, Ignatius (11 May 2012). “Puma Energy Zambia International Rally blasts off”. Moto Cross. Archived from the original on 5 May 2013. Retrieved 17 April 2013.
  50. ^ “Puma Pumps K2M into Tennis”. Face of Malawi. 9 October 2012. Retrieved 17 April 2013.
  51. ^ Kapembwa, Darious (14 April 2012). “Essa gets Puma Energy, Madison sponsorship deal”. The Post Newspapers. Archived from the original on 2 March 2014. Retrieved 17 April 2013.
  52. ^ “Essa, Puma and Madison seal deal”. Sai Life Sport. 27 February 2013. Archived from the original on 7 March 2014. Retrieved 17 April 2013.

External links[edit]

Media related to Puma Energy at Wikimedia Commons

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