Puma Energy Acquires BP's Aviation Business In Puerto Rico

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May 18, 2015, 04:52 ET

SAN JUAN, Puerto Rico, May 18, 2015 /PRNewswire/ -- Puma Energy, the globally integrated midstream and downstream energy company, today announced that it has signed a purchase agreement with BP to buy its local aviation business in Puerto Rico.

Subject to regulatory and other approvals, Puma Energy hopes to complete the sale by the middle of 2015. Puma Energy will assume operatorship of the site at the Luis Munoz Marin International Airport in San Juan, which services over 4 million passengers per year.

Puma Energy has long-established supply partnerships with commercial and general aviation customers, including some of the world's leading airlines. Puma Energy already serves over 45 airports around the world with airport and into-plane operations, which conform to Joint Inspection Group (JIG) and International Air Transport Association (IATA) standards. Puma Energy is also a fuel group strategic partner of IATA.

"This acquisition will allow us to provide secure supply of fuel for Puerto Rico's aviation needs, and is further demonstration of our long-term commitment to the Island. It will also allow us to widen supply options across the Caribbean and Americas," said Rodrigo Zavala, Chief Operating Officer for Puma Energy Americas.

Puma Energy's Global Head of Aviation, Diego Lamarche said the decision to acquire BP's aviation business in Puerto Rico comes at an important time for the regional fuel industry. "The Caribbean market faces a reliance on aviation imports after the shutdown of several refineries, and we believe this asset strengthens and diversifies our position as Puerto Rico's largest fuel retailer."

The acquisition will complement Puma Energy's existing aviation business. The acquired Puerto Rico business supplies JET A, as per international quality standard.

Puerto Rico is the regional hub for Puma Energy's Americas business, and home to a network of 350 retail sites and 175 employees. The refurbished Puma Energy Bayamon Storage terminal now has a capacity of 517,000m3.

About Puma Energy
Puma Energy is a global integrated midstream and downstream oil company active in close to 45 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 over 7,500 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 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 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 over 2,000 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.

Existing Puma Energy Aviation customers include AeroMexico; AirFrance; Air Namibia; Avianca; Delta; Egyptair; Ethiopian; JetBlue; KLM; Lufthansa; Qatar; Spirit; Thomas Cook; United; US Army; American Airlines; British Airways; DHL; Emirates; Kenya Airways; LAN; Oman Air; South African Airways; Swiss; Turkish Airlines; Quantas; Ethiad; Air Niugini; Air Force One; Air Force Two.

For further information visit: http://www.pumaenergy.com/en/what-we-do/aviation

SOURCE Puma Energy