Puma Energy is a
Swiss
Swiss may refer to:
* the adjectival form of Switzerland
* Swiss people
Places
* Swiss, Missouri
* Swiss, North Carolina
*Swiss, West Virginia
* Swiss, Wisconsin
Other uses
*Swiss-system tournament, in various games and sports
*Swiss Internation ...
multinational mid- and downstream
oil company
The petroleum industry, also known as the oil industry or the oil patch, includes the global processes of hydrocarbon exploration, exploration, extraction of petroleum, extraction, oil refinery, refining, Petroleum transport, transportation (of ...
, majority-owned by Singapore-based Swiss company
Trafigura
Trafigura Group Pte. Ltd. is a Singaporean-based Swiss multinational commodity trading company founded in 1993 that trades in base metals and energy. It is the world's largest private metals trader and second-largest oil trader having built or p ...
.
[
Its operations span around 40 countries across five continents and encompass the supply, storage, refining, distribution, and retail of a range of petroleum products.]
The firm owns and operates more than 1,900 service stations and of oil storage facilities. The company employs over 3,500 staff and is headquartered in Singapore
Singapore (), officially the Republic of Singapore, is a sovereign island country and city-state in maritime Southeast Asia. It lies about one degree of latitude () north of the equator, off the southern tip of the Malay Peninsula, borde ...
with regional hubs in Geneva
Geneva ( ; french: Genève ) frp, Genèva ; german: link=no, Genf ; it, Ginevra ; rm, Genevra is the List of cities in Switzerland, second-most populous city in Switzerland (after Zürich) and the most populous city of Romandy, the French-speaki ...
, Johannesburg
Johannesburg ( , , ; Zulu and xh, eGoli ), colloquially known as Jozi, Joburg, or "The City of Gold", is the largest city in South Africa, classified as a megacity, and is one of the 100 largest urban areas in the world. According to Demo ...
, San Juan San Juan, Spanish for Saint John, may refer to:
Places Argentina
* San Juan Province, Argentina
* San Juan, Argentina, the capital of that province
* San Juan, Salta, a village in Iruya, Salta Province
* San Juan (Buenos Aires Underground), ...
, Brisbane
Brisbane ( ) is the capital and most populous city of the states and territories of Australia, Australian state of Queensland, and the list of cities in Australia by population, third-most populous city in Australia and Oceania, with a populati ...
, and Tallinn
Tallinn () is the most populous and capital city of Estonia. Situated on a bay in north Estonia, on the shore of the Gulf of Finland of the Baltic Sea, Tallinn has a population of 437,811 (as of 2022) and administratively lies in the Harju ' ...
.
History
The ''Puma'' brand was created in Argentina
Argentina (), officially the Argentine Republic ( es, link=no, República Argentina), is a country in the southern half of South America. Argentina covers an area of , making it the second-largest country in South America after Brazil, th ...
in 1929 by "Compañía General de Combustibles S.A." (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 name. 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.[Who we are]
on Puma Energy website
In 1994, CGC (then owned by Santiago Soldati
Santiago Soldati (born February 11, 1943) is a prominent Argentine businessman.
Career
Santiago Soldati was born to Francisco Soldati, a nephew of the founder of the Villa Lugano neighborhood of Buenos Aires, José Francisco Soldati, and the owne ...
's family) merged to other two local oil companies, Astra and Isaura (which had an own refinery in Bahía Blanca), to form a new company, named "Eg3". Nevertheless, the company only lasted two years as a private enterprise
A privately held company (or simply a private company) is a company whose shares and related rights or obligations are not offered for public subscription or publicly negotiated in the respective listed markets, but rather the company's stock is ...
so it was acquired by Spanish Repsol
Repsol S.A.
El Nuevo Herald, 2012-05-31[Originally an init ...]
(which already owned 33% of Astra after acquiring it for US$360 million) in 1997. Repsol kept the Eg3 brand and stations, but two years later sold the company to Brazilian corporation Petrobras
Petróleo Brasileiro S.A., better known by the portmanteau Petrobras (), is a state owned enterprise, state-owned Brazilian multinational corporation in the petroleum industry headquartered in Rio de Janeiro, Brazil. The company's name transla ...
for US$1,000 million. The Brazilian corporation dissolved Eg3, renaming all its stations (a total of 800) as ''Petrobras''.[
In 1997, Swiss ]multinational corporation
A multinational company (MNC), also referred to as a multinational enterprise (MNE), a transnational enterprise (TNE), a transnational corporation (TNC), an international corporation or a stateless corporation with subtle but contrasting senses, i ...
Trafigura
Trafigura Group Pte. Ltd. is a Singaporean-based Swiss multinational commodity trading company founded in 1993 that trades in base metals and energy. It is the world's largest private metals trader and second-largest oil trader having built or p ...
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. It was acquired by Trafigura in 2000. In 2010 the firm announced the acquisition of five retail companies from BP Africa. Since then it has acquired further fuel marketing assets in Central America, the Caribbean, Southeast Asia, and Australia.
On 1 July 2020 Chevron Australia Downstream Pty Ltd, a wholly owned subsidiary of Chevron Corp.
Chevron Corporation is an American multinational energy corporation. The second-largest direct descendant of Standard Oil, and originally known as the Standard Oil Company of California (shortened to Socal or CalSo), it is headquartered in Sa ...
, 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. In April 2021, it was announced that Trafigura control of Puma Energy would increase to over 90% after Angolan company Sonangol Group
Group Sonangol ( pt, Grupo Sonangol) is a parastatal that formerly oversaw petroleum and natural gas production in Angola. The group consisted of Sonangol E.P. ( pt, Sociedade Nacional de Combustíveis de Angola, E.P.) and its many subsidiaries. ...
agreed to sell its stake for US$600 million.[
]
Operations
Africa
The firm has operations in nineteen West, Central and Southern African countries. 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. 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. 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.
The Botswana business accounted for a significant share of the total price and marked the first time the firm had entered a landlocked African country, giving the firm a cross-continental presence from Namibia to Mozambique.
Also in 2010 the firm formed an alliance with Castrol
Castrol is a British oil company that markets industrial and automotive lubricants, offering a wide range of oil, greases and similar products for most lubrication applications. The name ''Castrol'' was originally just the brand name for com ...
to distribute lubricant brands in the new Southern African markets, as well as Angola and the Democratic Republic of the Congo. In 2012 the firm acquired two import terminals for liquefied petroleum gas
Liquefied petroleum gas (LPG or LP gas) is a fuel gas which contains a flammable mixture of hydrocarbon gases, specifically propane, propylene, butylene, isobutane and n-butane.
LPG is used as a fuel gas in heating appliances, cooking e ...
in Benin and Senegal.
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.
In 2016 Puma Energy delivered its first cargo of bitumen in Nigeria under a joint venture with Wabeco Petroleum Ltd.
Latin America
In 2010 Puma Energy formed a regional subsidiary, Puma Energy Caribe, which bought Caribbean Petroleum Corporation
Caribbean Petroleum Corporation (CAPECO) is an oil company in Puerto Rico
Puerto Rico (; abbreviated PR; tnq, Boriken, ''Borinquen''), officially the Commonwealth of Puerto Rico ( es, link=yes, Estado Libre Asociado de Puerto Rico, lit=Free ...
's fire-damaged fuel depot in Puerto Rico and 147 Gulf
A gulf is a large inlet from the ocean into the landmass, typically with a narrower opening than a bay, but that is not observable in all geographic areas so named. The term gulf was traditionally used for large highly-indented navigable bodie ...
-branded service stations.[ In March 2012 the firm acquired ]ExxonMobil
ExxonMobil Corporation (commonly shortened to Exxon) is an American multinational oil and gas corporation headquartered in Irving, Texas. It is the largest direct descendant of John D. Rockefeller's Standard Oil, and was formed on November 30, ...
's downstream businesses in Guatemala
Guatemala ( ; ), officially the Republic of Guatemala ( es, República de Guatemala, links=no), is a country in Central America. It is bordered to the north and west by Mexico; to the northeast by Belize and the Caribbean; to the east by H ...
, El Salvador
El Salvador (; , meaning " The Saviour"), officially the Republic of El Salvador ( es, República de El Salvador), is a country in Central America. It is bordered on the northeast by Honduras, on the northwest by Guatemala, and on the south b ...
, Honduras
Honduras, officially the Republic of Honduras, is a country in Central America. The republic of Honduras is bordered to the west by Guatemala, to the southwest by El Salvador, to the southeast by Nicaragua, to the south by the Pacific Oce ...
, Nicaragua
Nicaragua (; ), officially the Republic of Nicaragua (), is the largest country in Central America, bordered by Honduras to the north, the Caribbean to the east, Costa Rica to the south, and the Pacific Ocean to the west. Managua is the cou ...
, Panama
Panama ( , ; es, link=no, Panamá ), officially the Republic of Panama ( es, República de Panamá), is a transcontinental country spanning the southern part of North America and the northern part of South America. It is bordered by Cos ...
, and Belize
Belize (; bzj, Bileez) is a Caribbean and Central American country on the northeastern coast of Central America. It is bordered by Mexico to the north, the Caribbean Sea to the east, and Guatemala to the west and south. It also shares a wate ...
, establishing it as one of the region's largest petroleum companies.[ In Nicaragua the firm has 40% of the retail market as well as an oil refinery in ]Managua
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, acquired from Exxon, with a capacity of .[
]
In July 2012 the firm purchased Chevron
Chevron (often relating to V-shaped patterns) may refer to:
Science and technology
* Chevron (aerospace), sawtooth patterns on some jet engines
* Chevron (anatomy), a bone
* ''Eulithis testata'', a moth
* Chevron (geology), a fold in rock lay ...
's fuel distribution and storage businesses in Puerto Rico
Puerto Rico (; abbreviated PR; tnq, Boriken, ''Borinquen''), officially the Commonwealth of Puerto Rico ( es, link=yes, Estado Libre Asociado de Puerto Rico, lit=Free Associated State of Puerto Rico), is a Caribbean island and Unincorporated ...
and the United States Virgin Islands
The United States Virgin Islands,. Also called the ''American Virgin Islands'' and the ''U.S. Virgin Islands''. officially the Virgin Islands of the United States, are a group of Caribbean islands and an unincorporated and organized territory ...
. The assets include 192 Texaco
Texaco, Inc. ("The Texas Company") is an American Petroleum, oil brand owned and operated by Chevron Corporation. Its flagship product is its Gasoline, fuel "Texaco with Techron". It also owned the Havoline motor oil brand. Texaco was an Indepe ...
service stations, an aviation fuel supply and storage tanks with a combined capacity of .[
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
The Dominican Republic ( ; es, República Dominicana, ) is a country located on the island of Hispaniola in the Greater Antilles archipelago of the Caribbean region. It occupies the eastern five-eighths of the island, which it shares wit ...
. 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.[
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
Colombia (, ; ), officially the Republic of Colombia, is a country in South America with insular regions in North America—near Nicaragua's Caribbean coast—as well as in the Pacific Ocean. The Colombian mainland is bordered by the Car ...
.
The brand ''Puma'' returned to Argentina in May 2016, when the company opened a petrol station in Saladillo, after Trafigura acquired Brazilian company Petrobras
Petróleo Brasileiro S.A., better known by the portmanteau Petrobras (), is a state owned enterprise, state-owned Brazilian multinational corporation in the petroleum industry headquartered in Rio de Janeiro, Brazil. The company's name transla ...
' local assets for US$90 million. As a result, a total of 250 former Petrobras stations (operated by local firm Pampa Energía
Pampa Energía S.A. is the largest independent energy company in Argentina, with participation in the electricity and oil and gas value chain. It was founded in 2005 and is headquartered in Buenos Aires.
Pampa is listed on the Buenos Aires Stock ...
) were rebranded as ''Puma''. With the purchase, Puma Energy also took control of an oil refinery
An oil refinery or petroleum refinery is an industrial process plant where petroleum (crude oil) is transformed and refined into useful products such as gasoline (petrol), diesel fuel, asphalt base, fuel oils, heating oil, kerosene, lique ...
in Bahía Blanca, and other plants in Avellaneda
Avellaneda (, ) is a port city in the province of Buenos Aires, Argentina, and the seat of the Avellaneda Partido, whose population was 342,677 as per the . Avellaneda is located within the Greater Buenos Aires metropolitan area, and is connected ...
and Santa Cruz Province. With a 4,9% market share, Puma ranked as the fourth petroleum brand in Argentina after YPF
YPF S.A. (, formerly ; English: "Fiscal Oilfields") is a vertically integrated, majority state-owned Argentine energy company, engaged in oil and gas exploration and production, and the transportation, refining, and marketing of gas and petr ...
(55,1%), Shell
Shell may refer to:
Architecture and design
* Shell (structure), a thin structure
** Concrete shell, a thin shell of concrete, usually with no interior columns or exterior buttresses
** Thin-shell structure
Science Biology
* Seashell, a hard ou ...
and Axion.[Fin a la marca Petrobras: las estaciones de servicio pasarán a llamarse Puma]
''Clarín'', 2017
Asia-Pacific
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
Asphalt, also known as bitumen (, ), is a sticky, black, highly viscous liquid or semi-solid form of petroleum. It may be found in natural deposits or may be a refined product, and is classed as a pitch. Before the 20th century, the term a ...
for infrastructure projects in Vietnam
Vietnam or Viet Nam ( vi, Việt Nam, ), officially the Socialist Republic of Vietnam,., group="n" is a country in Southeast Asia, at the eastern edge of mainland Southeast Asia, with an area of and population of 96 million, making i ...
. The deal was completed in November 2012. Thus, the firm expanded its activities into the global bitumen market.
In October 2012 Indonesian oil and gas company MedcoEnergi
PT Medco Energi Internasional Tbk or MedcoEnergi is an Indonesian oil and gas company. The company operates in Trading and Holding & Related Operations, Exploration for and Production of Oil & Gas, Power, Services, Chemicals and Rental of prope ...
signed an agreement with Puma Energy to sell a 64% stake in its liquid-fuel storage and distribution subsidiary, PT Medco Sarana Kalibaru (MSK). MSK's downstream assets include a high speed diesel (HSD) storage facility in Jakarta
Jakarta (; , bew, Jakarte), officially the Special Capital Region of Jakarta ( id, Daerah Khusus Ibukota Jakarta) is the capital and largest city of Indonesia. Lying on the northwest coast of Java, the world's most populous island, Jakarta ...
as well as transport infrastructure and a distribution network for supplying fuel to mining companies in Sumatra and Kalimantan
Kalimantan () is the Indonesian portion of the island of Borneo. It constitutes 73% of the island's area. The non-Indonesian parts of Borneo are Brunei and East Malaysia. In Indonesia, "Kalimantan" refers to the whole island of Borneo.
In 2019, ...
.
In January 2013, Puma Energy entered the Australian market when it bought Neumann Petroleum in Queensland
)
, nickname = Sunshine State
, image_map = Queensland in Australia.svg
, map_caption = Location of Queensland in Australia
, subdivision_type = Country
, subdivision_name = Australia
, established_title = Before federation
, established_ ...
, Australia
Australia, officially the Commonwealth of Australia, is a Sovereign state, sovereign country comprising the mainland of the Australia (continent), Australian continent, the island of Tasmania, and numerous List of islands of Australia, sma ...
, in a deal that included a chain of 125 service stations and an $18 million bulk seaboard fuel terminal in Brisbane
Brisbane ( ) is the capital and most populous city of the states and territories of Australia, Australian state of Queensland, and the list of cities in Australia by population, third-most populous city in Australia and Oceania, with a populati ...
. In February 2013 the firm doubled its number of Australian petrol stations with the acquisition of Ausfuel (including Gull Petroleum
Gull Petroleum is a petroleum distributor in Australia. Founded in Perth, Western Australia in 1976, it was later owned by Puma Energy and now owned by Chevron Corporation ( Caltex).
History
Gull Petroleum was founded by Keith Mitchell, Mark ...
) from Archer Capital
Archer Capital is an Australian private equity investment firm based in Sydney. It was founded as GS Private Equity in 1996. Archer Capital hosts multiple investment funds which invest in businesses across a wide array of industries and sectors, ...
for $652 million, becoming the country's largest independent fuel retailer. In February 2013 it bought Central Combined Group, the largest independent fuel marketer in central Queensland. In December 2019, Puma Energy agreed terms to sell its Australian operations to Chevron
Chevron (often relating to V-shaped patterns) may refer to:
Science and technology
* Chevron (aerospace), sawtooth patterns on some jet engines
* Chevron (anatomy), a bone
* ''Eulithis testata'', a moth
* Chevron (geology), a fold in rock lay ...
, finalised in mid-2020. Since early 2022, the Puma Energy stations in the country were progressively rebranded to Chevron's Caltex
Caltex is a petroleum brand name of Chevron Corporation used in the Asia-Pacific region, the Middle East, and Southern Africa. It is also the brand name of non-Chevron petroleum companies in some countries (such as New Zealand, and previously ...
brand.
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
Papua New Guinea (abbreviated PNG; , ; tpi, Papua Niugini; ho, Papua Niu Gini), officially the Independent State of Papua New Guinea ( tpi, Independen Stet bilong Papua Niugini; ho, Independen Stet bilong Papua Niu Gini), is a country i ...
for $526 million.
In November 2014 Puma Energy opened the Langsat Bitumen Terminal, a 74,000-tonne bitumen storage facility in Johor
Johor (; ), also spelled as Johore, is a States and federal territories of Malaysia, state of Malaysia in the south of the Malay Peninsula. Johor has land borders with the Malaysian states of Pahang to the north and Malacca and Negeri Sembilan ...
, Malaysia
Malaysia ( ; ) is a country in Southeast Asia. The federation, federal constitutional monarchy consists of States and federal territories of Malaysia, thirteen states and three federal territories, separated by the South China Sea into two r ...
.
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. In NEPAS was deconsolidated from Puma Energy in the first quarter of 2022.
Europe
In March 2015 Puma Energy made its first acquisition in the United Kingdom
The United Kingdom of Great Britain and Northern Ireland, commonly known as the United Kingdom (UK) or Britain, is a country in Europe, off the north-western coast of the continental mainland. It comprises England, Scotland, Wales and North ...
, purchasing the disused Milford Haven Refinery
Milford Haven Refinery was an oil refinery situated on the Pembrokeshire coast in Wales, United Kingdom. The refinery began operating in 1973 under Amoco's ownership, but in its final years it was owned by Murco Petroleum. The closure of the r ...
in Wales
Wales ( cy, Cymru ) is a Countries of the United Kingdom, country that is part of the United Kingdom. It is bordered by England to the Wales–England border, east, the Irish Sea to the north and west, the Celtic Sea to the south west and the ...
from Murphy Oil
Murphy Oil Corporation is a company engaged in hydrocarbon exploration headquartered in Houston, Texas.
The company is ranked 625th on the Fortune 500 and 1860th on the Forbes Global 2000.
As of December 31, 2020, the company had of estimate ...
subsidiary Murco Petroleum for use as a fuel storage site.
In 2016 Puma Energy signed a purchase agreement with BP to buy its bulk storage fuel terminal in Belfast, Northern Ireland.
Ownership
Trafigura is Puma Energy's biggest shareholder, with a 96% stake. The remaining minority shares are owned by private shareholders.
In December 2012 the ''Financial Times
The ''Financial Times'' (''FT'') is a British daily newspaper printed in broadsheet and published digitally that focuses on business and economic current affairs. Based in London, England, the paper is owned by a Japanese holding company, Nik ...
'' reported that Trafigura had designated 2014 as the 'earliest' date for a public offering of Puma Energy, with London
London is the capital and largest city of England and the United Kingdom, with a population of just under 9 million. It stands on the River Thames in south-east England at the head of a estuary down to the North Sea, and has been a majo ...
the most likely market.[ 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".
]
Sports sponsorships
Puma Energy sponsors a number of sporting events in Africa including the Zambia International Rally. In 2012 the firm sponsored the Malawi Open Tennis Championship. In 2012, the firm joined forces with an insurance company Madison General to sponsor Zambian national rally champion Mohammed Essa. The two firms renewed their sponsorship of Essa in February 2013.
References
External links
* {{official website
Oil pipeline companies
Oil and gas companies of Singapore
1929 establishments in Argentina
1997 mergers and acquisitions