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Oil market PUMA Energy enters fuel retail market

PUMA acquired the shares of oil marketing company - UBI.

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PUMA Energy, the global integrated midstream and downstream energy company, has entered the Ghanaian fuel retail market, an official from the company confirmed to Pulse Business via telephone interview.

According to her, PUMA acquired the shares of oil marketing company - UBI.

In a blogpost, PUMA Energy said "Ghana has become one of Africa’s leading oil and gas producers, currently exporting 110,000 barrels a day. It is also one of our key midstream locations."

"Our offshore mooring capabilities put us at the heart of the Ghanaian oil import business. We have constructed two offshore mooring systems, which we continue to operate and maintain along with their associated pipelines and all ancillary facilities for the unloading and transportation of crude and refined petroleum products."

"Our operations in Ghana are managed through two wholly-owned subsidiaries. Kpone Marine Services Limited (KMSL) provides maintenance and operational services, managing vessels and buoy connections. It owns and operates a dedicated storage and pumping terminal at Kpone."

The Chief Operating Officer Christophe Zyde said through the UBI acquisition the company has got some 18 fuel stations, with an additional two, to start with, The Business and Financial Times reported.

“Two weeks ago, we received approval from the NPA to change the name UBI to Puma Energy; and that, of course, will go hand in hand with rebranding the fuel stations. You will now see the Puma Energy brand coming up in Ghana,” Christophe Zyde said.

“We are truly a Ghanaian company because more than 50% of our shareholding is Ghanaian,” he said.

 

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