23 Jan 2013 - Competition and supply in Australia’s fuel market will receive a much-needed boost with the announcement today that Neumann Petroleum, owner of Matilda and Neumann service stations, is to be acquired by Puma Energy. The agreement is subject to regulatory approvals and procedural consents.
Under the deal, which represents Puma Energy’s first investment in Australia, Puma will acquire Neumann Petroleum’s retail portfolio of more than 120 service stations in Queensland and New South Wales, along with the company’s bulk seaboard fuel terminal at Eagle Farm in Brisbane.
Independently owned mid and downstream oil company Puma Energy also plans to develop a new petroleum import terminal at the Port of Mackay. The investments will see existing Neumann Petroleum staff retained and jobs created in Mackay.
Puma Energy’s global CEO Pierre Eladari said that the company was committing significant funds to develop Neumann Petroleum’s Australian businesses. “We were attracted to Neumann Petroleum because of the company’s strong performance and outstanding portfolio of retail and terminal assets. Puma Energy has grown rapidly in recent years through organic growth and by buying downstream assets from ExxonMobil, BP and Chevron. Each time we have retained local staff and grown the businesses,” said Mr Eladari.
Neumann Associate Companies’ CEO Mike Carroll said the Board was pleased to have reached the agreement with Puma Energy on the sale of Neumann Petroleum. “We believe that Puma is the right company to take Neumann Petroleum and Matilda to the next level. We are also pleased that our staff will be able to participate in this growth under the ownership of a global company that has a demonstrated commitment to the Australian market and our people,” said Mr Carroll.
“Australia has a strong economy, a growing retail and mining-driven fuel market with enormous potential, and this is an ideal environment in which to continue our global growth efforts,” said Ray Taylor, Puma Energy General Manager for Australia. “The acquisition is an important step in the company’s strategy of becoming a significant, independent player in the Australian market and will bring more robust competition to the country’s petroleum market.”
The petroleum import facility within the Port of Mackay will be in addition to the acquired Neumann Petroleum assets in the Port of Mackay and will provide an additional 57 megalitres (57,000 m3) of storage; further establishing the Group’s ability to provide secure fuel supply within the region. This will add to Puma Energy’s network, which currently includes more than 45 bulk fuel terminals worldwide.
Puma Energy is already active in North East Europe, the Middle East, Africa, Latin America, the Caribbean and Asia including Indonesia, Vietnam, Singapore and Malaysia. Formed in 1997 in Central America, Puma Energy has since expanded its activities worldwide to include a retail network of more than 1,300 service stations and 5,000 employees.
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Neumann Petroleum is an Australian independent fuel marketer which operates more than 120 service stations under the Neumann or Matilda brands from Gladstone to Toowoomba in the West and as far south as Eden on the New South Wales South Coast.
Neumann Petroleum also owns and operates a bulk seaboard fuel terminal located at Eagle Farm, Brisbane serving customers include local service stations, distributors, primary producers and commercial end-users. The company is a leader in biofuels, providing ethanol enriched fuel (E-Gen) and biodiesel.
Puma Energy is an integrated midstream and downstream oil company active in Africa, Latin America, the Caribbean, North East Europe, the Middle East and Asia. Formed in 1997 in Central America, Puma Energy has since expanded its activities worldwide, achieving rapid growth, diversification and product line development.
The group manages over 5,000 people and now operates in over 30 countries worldwide with regional hubs in Tallinn (Estonia), Johannesburg (South Africa), San Juan (Puerto Rico) and Singapore. 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 the full range of refined products, with additional product offerings in the lubricants, bitumen, LPG and marine bunkering sectors. Puma currently has a global network of over 1,300 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.
Puma Energy LLC is a subsidiary of Trafigura Beheer B.V. – one of the world’s largest independent commodity traders. Sonangol (the national oil company of Angola) is a 20% shareholder in Puma Energy.