Puma Energy Targets South Africa for Growth

Puma Energy Targets South Africa for Growth

 Puma Energy has officially launched operations in South Africa this week.

 Puma’s expansion contrasts with the contraction by major oil companies which has been covered by PetrolWorld in a number of feature articles over the last two years.  That is to say major oil companies are trying to cut capital and operating costs as the oil price has fallen over the past two years, to touch a 12-year low of $27 a barrel in January.

PetrolWorld reported Chevron Global’s invitation for bids of its operations in South Africa, which include refining, storage and retail, through the Caltex brand.  While PetrolWorld would surmise that Puma Energy is one of the companies in the bidding process, there has been no confirmation from Puma or Trafigura on this to date.

Last year Puma Energy bought Drakensberg Oil and 74.9% of Brent Oil, an owner of logistics and storage facilities and branded fuel stations. Puma currently has a network of 123 fuel retail sites in South Africa, including those of Brent Oil, which are being rebranded. PW 0216

Last modified onWednesday, 24 February 2016 09:17
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