Chevron completes Puma Energy acquisition

Source: press release, 30 June 2020

photo: Chevron
photo: Chevron

Chevron Australia Downstream Pty Ltd., a wholly-owned subsidiary of Chevron Corporation, has announced that it has completed the acquisition from Puma Energy Asia Pacific B.V. of all shares and equity interests of Puma Energy (Australia) Holdings Pty Ltd for the amount of AUD 425 million.

The acquisition adds a network of more than 360 company-owned and retailer-owned service stations, a commercial and industrial fuels business, owned or leased seaboard import terminals and fuel distribution depots to Chevron’s Australian portfolio.

“This strategic acquisition further integrates our value chain in the Asia Pacific region by providing a well-developed infrastructure for products from our Asian refining joint ventures in an attractive market,” says Mark Nelson, Chevron’s executive vice president for Downstream & Chemicals. “We are excited to welcome Puma Energy’s employees into the Chevron family. Once we satisfy current licensing commitments in Australia we look forward to extending the Caltex family of brands across the continent.”