Chevron Buys Australia’s Puma Energy For Nearly $300 Million

Australia’s Puma Energy
Australia’s Puma Energy

 

Chevron, one of the US giant will soon purchase Australia’s Puma Energy for approximately USD 292 Million in order to deliver more fuel distribution support in the Asia-Pacific region. Chevron has a huge presence for the refinery in Asia and also large liquefied natural gas hubs in Australia. It will scoop up Puma’s network of 100 storage terminals along with 3,000 retail fueling sites and its approximately 8,000 employees which will also include regional locations in Singapore, Estonia, South Africa and Puerto Rico. The Chevron’s executive vice president for downstream and chemicals, Mark Nelson said that the acquisition will also offer Chevron with a stable market for manufacturing volumes from their refining joint ventures in Asia. This will create a foundation for sustainable earnings growth. This will also help them build Chevron’s strong history of partnership in Australia along with the global experiences in fuels and convenience marketing and supply.