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Puerto Rico: Puma Plans Depot and Retail Network Cleanup

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Wednesday, 26 October 2011
pipeso.jpg
Puma Energy Caribe has announced that it will proceed with plans to rebuild and clean its fuel depot in Bayamon. The facility, which was devastated by an explosion and fire two years ago, was owned by Caribbean Petroleum Corp. (Capeco) at the time of the incident but acquired by Puma for $82m in bankruptcy court. 

The fuel depot includes the only deep-water dock in the harbour, a disused oil refinery and six pipelines. As part of an agreement with the U.S. Environmental Protection Agency (EPA), Puma Energy Caribe agreed to restore the facility and also address environmental concerns at 147 fuel service stations in Puerto Rico.
 
Since acquiring the depot, the company has invested $233m in the Puerto Rico market, including $138 million in construction, restoration and environmental remediation. The company’s plans for the facility include dismantling the refinery to make way for fuel storage, and the rebuilding of the deep-water dock.
 
PetrolWorld 26102011
 
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