Trafigura completes acquisition of Pampa Energia’s downstream assets in Argentina
The Trafigura Group Pte Ltd has completed the acquisition of the majority of the downstream assets of Pampa Energia S.A. Pampa Energía is a fully integrated energy company in Argentina, engaged in electricity generation, transmission and distribution, upstream and downstream.
Trafigura announced the signing of the sale and purchase agreement in December 2017 for majority of Pampa Energia’s downstream assets, including more than 250 service stations, the Ricardo Elicabe (BBR) refinery located in Bahia Blanca, and a lubricants blending plant in Avellaneda, as well as a fuel storage terminal in Caleta Paula, in the province of Santa Cruz. Pampa Energia manufactures Lubrax lubricants under license with Petrobras.
Trafigura’s current operations in Argentina include a fluvial fleet and the Campana Terminal which supplies the Argentinian, Paraguayan and Bolivian markets with diesel fuel and gasoline 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, at the time of the announcement of the sale.
“Puma Energy is a recognized 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 transfer of the assets and rebranding of the 250 service stations will be progressive and rolled out over the coming months.
Founded in 1993, Trafigura is one of the largest physical commodities trading groups in the world. The trading business is supported by industrial and financial assets, including Puma Energy (49.6%); global terminals, warehousing and logistics operator Impala Terminals; Trafigura’s Mining Group; and Galena Asset Management.
The company is owned by around 600 of its 3,935 employees who work in 62 offices in 35 countries around the world. Trafigura has achieved substantial growth over recent years, growing revenue from USD 12 billion in 2003 to USD 136.4 billion in 2017.
Puma Energy is 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 more than 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 optimizes supply chain systems, capturing value as both asset owner and marketer. 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 more than 3,000 retail service stations.
echo '
