Puma Energy announced the acquisition of a series of UK assets from Murco Petroleum Limited, a subsidiary of Murphy Oil Corporation.
Article continues below
The acquisition includes the Milford Haven facility in Wales, UK and three inland terminals at Westerleigh, Theale and Bedworth, as well as Murco’s wholesale and distribution business in the UK. This in total adds approximately 1.4Mm3 of storage capacity to Puma Energy’s midstream operations of 5.6Mm3.
Under the terms of the agreement, which represents Puma Energy’s first acquisition in the United Kingdom, the Company will acquire the assets and convert the site into a state-of-the-art storage facility. Puma Energy are also delighted to be welcoming all the terminal and distribution employees.
As one of the world’s largest independent, integrated midstream and downstream companies, Puma Energy will apply its extensive experience in fuel storage at the facility – the result of which will make Milford Haven a key site securing the supply of energy to the UK and wider region during a period of change in European energy infrastructure.
The acquisition will complement Puma Energy’s existing global strategy of disciplined investing. It also signifies a significant strategic entry into the UK market for the supply of the full range of fuel products giving Puma Energy an immediate presence in the UK wholesale and distribution market.
Milford Haven will provide another opportunity for Puma Energy to demonstrate its ability to operate to the highest of internationally-recognised environmental standards.
The Company is experienced in working alongside various Environmental agencies across its geographic footprint of 45 countries. This includes a commendation by the US Environmental Protection Agency in Puerto Rico for its works at its Bayamon terminal and for globally constructing five state-of-the-art terminals in 2014.
Puma Energy also announced it has signed a sales and purchase agreement with BP Australia to buy its Australian bitumen business. The completion of the transaction is subject to regulatory approvals.
PNG rugby largePuma Energy is a major player in the global bitumen market. Puma Energy is one of the largest traders of bitumen with a worldwide distribution and marketing network. This includes owning and operating one of the world’s largest bitumen vessel fleets. ■
Under an intense surge of arctic air, Friday morning will begin with the coldest temperatures so far this season across much of the central and eastern U.S. with blustery conditions and a piercing wind chill.