Chevron Australia Downstream Pty Ltd., a wholly-owned subsidiary of Chevron Corporation, 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 AU$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,” said 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.”

Chevron is one of the world's leading integrated energy companies and through its Australian subsidiaries, has been present in Australia for more than 60 years. With the ingenuity and commitment of thousands of workers, Chevron Australia operates the Gorgon and Wheatstone natural gas facilities; manages its equal one-sixth interest in the North West Shelf Venture; operates Australia’s largest onshore oilfield on Barrow Island; and is a significant investor in exploration.

About Chevron

Chevron Corporation is one of the world’s leading integrated energy companies. Through its subsidiaries that conduct business worldwide, the company is involved in virtually every facet of the energy industry. Chevron explores for, produces and transports crude oil and natural gas; refines, markets and distributes transportation fuels and lubricants; manufactures and sells petrochemicals and additives; generates power; and develops and deploys technologies that enhance business value in every aspect of the company’s operations. Chevron is based in San Ramon, Calif.

About Puma Energy

Puma Energy is a leading global energy business with a customer-focused approach to safely providing energy solutions in 47 countries across six continents. Puma Energy has around 3,000 retail sites, a presence at over 80 airports and a network of 100 storage terminals. Puma Energy directly employs over 8,000 people, with regional offices in Johannesburg, South Africa, San Juan, Puerto Rico, Tallinn, Estonia, and Singapore.