Trafigura to purchase the downstream assets of Pampa Energia in Argentina
Buenos Aires, 07 December 2017 - Trafigura Group Pte Ltd, ("Trafigura"), a market leader in the global commodities industry, has today announced the signing of a Sale and Purchase agreement for the majority of the downstream assets of Pampa Energia S.A. (“Pampa”). These assets include over 250 service stations, the Ricardo Elicabe (BBR) refinery located in Bahia Blanca, and a lubricants manufacturing facility in Avellaneda in Argentina, as well as a fuel storage terminal in Caleta Paula, in the province of Santa Cruz which serves the southern region of Argentina.
This marks a further step in Trafigura’s investment programme in the country which already includes a fluvial fleet and the Campana Terminal which supplies the Argentinian, Paraguayan and Bolivian markets with petroleum products via the Parana River. Trafigura is also building a rapidly growing network of retail service stations across Argentina which are being developed under the Puma Energy brand.
“Trafigura believes that the Argentine market has strong growth potential and intends to position itself as a long-term fuel supplier of choice to the country,” said Patricio Norris, co-head of Oil and Gas for Trafigura in America. “Puma Energy is a recognised brand with historical relevance in Argentina as it began its life here before expanding across the Americas. There is currently a significant shortfall in the production capacity of premium fuels in Argentina. By acquiring Pampa’s downstream assets we will be able to build our ability to offer customers high quality fuels in a reliable and competitively priced way."
The transaction is intended to close in early 2018.
ENDS
For further information please contact:
Trafigura’s Global Press Office: +41 22 592 45 28 or media@trafigura.com
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Notes to editors
About Trafigura
Founded in 1993, Trafigura is one of the largest physical commodities trading groups in the world. Trafigura sources, stores, transports and delivers a range of raw materials (including oil and refined products and metals and minerals) to clients around the world. The trading business is supported by industrial and financial assets, including 49.6 percent owned global oil products storage and distribution company Puma Energy; global terminals, warehousing and logistics operator Impala Terminals; Trafigura's Mining Group; 50 percent owned DT Group which specialises in logistics and trading; and Galena Asset Management. The Company is owned by around 600 of its 4,100 employees who work in 61 offices in 36 countries around the world. Trafigura has achieved substantial growth over recent years, growing revenue from USD12 billion in 2003 to USD98.1 billion in 2016. The Group has been connecting its customers to the global economy for more than two decades, growing prosperity by advancing trade. Visit: www.trafigura.com
About Puma Energy
Trafigura owns 49.6 percent of Puma Energy, a global integrated midstream and downstream oil company active in 48 countries. Formed in 1997 in Central America, Puma Energy has since expanded its activities worldwide, achieving rapid growth, diversification and product line development. The company directly manages over 8,000 employees. Headquartered in Singapore, it has regional hubs in Johannesburg (South Africa), San Juan (Puerto Rico), Brisbane (Australia) and Tallinn (Estonia).
Puma Energy’s core activities in the midstream sector include the supply, storage and transportation of petroleum products. Puma Energy’s activities are underpinned by investment in infrastructure which optimises supply chain systems, capturing value as both asset owner and marketer of product. Puma Energy’s downstream activities include the distribution, retail sales and wholesale of a wide range of refined products, with additional product offerings in the lubricants, bitumen, LPG and marine bunkering sectors. Puma Energy currently has a global network of over 3,000 retail service stations. Puma Energy also provides a robust platform for independent entrepreneurs to develop their businesses, by providing a viable alternative to traditional market supply sources.
Visit:www.pumaenergy.com