Sign up
Log in Sign up
Mon 12 Sep 2011 14:27

Puma Energy acquires BP fuel assets


Oil major sells its fuels marketing businesses in Namibia, Botswana, Zambia, Malawi and Tanzania.

BP has completed the sale to Puma Energy of its fuels marketing businesses in Namibia, Botswana, Zambia, Malawi and Tanzania. The sale of the final business in Tanzania completed on September 1.

Puma Energy paid BP a total of US$296 million in cash, (before working capital and net debt adjustments), for its interests in BP Namibia (Proprietary) Limited (100 per cent share), BP Botswana (Proprietary) Limited (100 per cent), BP Zambia Plc. (75 per cent), BP Malawi Limited (50 per cent), and BP Tanzania Limited (50 per cent).

The sale of the assets, which does not include the refining and marketing businesses in South Africa and Mozambique, follows BP’s strategic review of its southern African refining and marketing businesses last year.

Iain Conn, BP’s Chief Executive for Refining and Marketing said "BP is pleased that the sale of Tanzania has now been completed successfully. We believe Puma Energy will be able to build on these good assets and develop them further.

"We are committed to developing and pursuing the significant growth potential of our businesses in South Africa and Mozambique."

Sonan Energy Panama logo with white background. Sonan Energy Panama unveils new logo as part of sustainable energy transition  

Bunker firm introduces redesigned brand identity reflecting shift towards cleaner energy solutions.
Niclas Mårtensson, CEO of Stena Line. Stena Line to acquire Wasaline ferry operations in Baltic Sea expansion  

Swedish ferry operator signs deal to take over Umeå–Vaasa route with bio-LNG-powered vessel.
Arriva Shipping vessel Norbris. Berg Propulsion secures second Arriva retrofit after 10% fuel savings confirmed  

Norwegian shipowner orders second propulsion upgrade following verified efficiency gains on general cargo vessel Norjarl.
Dorthe Bendtsen and Anders Grønborg. Bunker Holding to absorb Baseblue into KPI OceanConnect by April 2026  

Integration follows earlier Hong Kong merger and aims to streamline operations and strengthen regional teams.
Chimbusco Pan Nation (CPN) new logo. CPN unveils new brand identity after 34 years in marine fuel supply  

Hong Kong bunker supplier launches rebrand centered on 'continuous evolution' and sustainable fuel solutions.
Aicha Azad, Flex Commodities. Flex Commodities hires Aicha Azad as trader in Dubai  

Bunker firm appoints multilingual trader with bunker trading and cargo operations experience.
Desk calendar with the word “TAX”. 'Excess' fossil fuel profits should be taxed and given back to citizens, says T&E  

Campaign group calls for sustained taxes on excess profits or end to subsidies that keep demand high.
NYK Line’s Padma Leader vessel. Imabari Shipbuilding delivers LNG-fuelled car carrier to NYK Line  

Padma Leader expected to achieve up to 30% CO2 reduction through dual-fuel propulsion and exhaust gas recirculation.
Tallink’s MyStar vessel. Tallink targets full bio-LNG transition for Baltic shuttle vessels within a year  

Estonian ferry operator aims to replace all fossil LNG with renewable fuel on the Helsinki-Tallinn route.
Grimaldi's Grande Melbourne vessel. Grimaldi takes delivery of third ammonia-ready car carrier from Chinese shipyard  

Grande Melbourne is the third of seven vessels ordered from Shanghai Waigaoqiao Shipbuilding for Asia-Europe service.




 Recommended