(EnergyAsia, March 16 2015, Monday) — In separate announcements today, Singapore-based Puma Energy said it has agreed to purchase BP’s bitumen business in Australia and Murco Petroleum’s fuels wholesale and distribution business in the UK. The proposed deals will be subject to local regulatory approvals.
The integrated midstream and downstream energy company, which has been rapidly expanding its operations through a mix of internal growth and acquisitions around the world, did not reveal the cost of the proposed acquisitions.
It will take over BP’s bitumen plants and businesses in Brisbane, Townsville, Altona, Hobart and Perth as the UK major focuses on its refining and fuel retails operations in Australia.
“The Australian bitumen market is increasingly reliant on imports after the shutdown of several refineries. Our global supply and distribution network and our fleet of vessels ensure supply security and enable us to source high quality and competitively priced products for our customers,” said Ray Taylor, Puma Energy Australia’s general manager.
Making its first venture into the UK, Puma Energy will be acquiring Murco Petroleum’s wholesale and distribution businesses as well as its Milford Haven facility in Wales and three inland terminals at Westerleigh, Theale and Bedworth.
Puma Energy said it plans to upgrade the terminals which have a combined storage capacity of 1.4 million cubic metres to boost its global capacity to seven million cubic metres. Murco Petroleum is a subsidiary of US-based Murphy Oil Corp.
As one of the world’s largest independent, integrated midstream and downstream companies, Puma Energy said it aims to make Milford Haven a key site for the security of UK’s energy supply.
Backed by two main shareholders, Switzerland-based Trafigura Group and Angola’s state energy firm Sonangol Holdings, Puma Energy has emerged as a leading global bitumen trader as well as fuel distribution and storage compay with over 7,400 employees. Formed in 1997 in Central America, Puma Energy is headquartered in Singapore with regional offices in Johannesburg (South Africa), San Juan (Puerto Rico), Brisbane (Australia) and Tallinn (Estonia).