Mid and downstream oil firm Puma Energy has acquired several UK assets from Murco Petroleum, a subsidiary of Murphy Oil.
Apart from the Milford Haven facility in Wales, UK, the acquisition also includes three inland terminals at Westerleigh, Theale and Bedworth, as well as Murco's wholesale and distribution business.
Puma Energy said it will convert the Milford Haven site into a storage facility. The deal adds 1.4Mm³ of storage capacity to Puma Energy's midstream operations of 5.6Mm³.
"The acquisition will complement Puma Energy's existing worldwide strategy and marks its entry in the UK wholesale and distribution market."
The acquisition will complement Puma Energy's existing worldwide strategy and marks its entry in the UK wholesale and distribution market.
Puma Energy CEO Pierre Eladari said: "Puma Energy continues our focused strategy of connecting supply from international markets to local distribution demand."
Apart from Murphy Oil's assets, Puma Energy also agreed to acquire BP's Australian bitumen business. The transaction is subject to regulatory approvals. The Australian bitumen market is currently going through a transition.
Puma Energy's activities in the midstream sector include the supply, storage and transportation of petroleum products.
The company's downstream activities include the distribution, retail sales and wholesale of a range of refined products, with additional product offerings in the lubricants, bitumen, LPG and marine bunkering sectors.