Puma Energy, one of the largest independent midstream and downstream oil companies, is pleased to announce its acquisition of the ALIBESA bitumen terminal in the port of Cadiz, Andalucía, Spain.

This investment is a strategic fit with Puma Energy’s current operations and will act as a catalyst to accelerate the growth of the company’s existing bitumen business. The terminal offers logistics flexibility unrivalled in Southern Europe, and is situated at a strategic crossroads where product flows to major markets. The terminal also offers value added products such as emulsion grades, and polymer-modified bitumen to the local market in Spain.

ALIBESA’s Cadiz marine terminal is located just 60 miles from the Strait of Gibraltar. Currently the terminal has over 21,000m3 of storage capacity with further possibilities for future expansion.

Formed in 1997 in Central America, Puma Energy has since expanded its activities worldwide, achieving rapid growth, diversification and product line development. Headquartered in Switzerland, Puma Energy now operates in 26 countries worldwide, employing around 1800 people.

Pierre Eladari, Puma Energy’s chairman, commented: “This deal represents another important addition to our fast-growing business portfolio. We plan to develop the Cadiz terminal as a bitumen supply hub that meets the needs of our growing client base situated around the Mediterranean, Africa and beyond.

“The logistical advantages of this terminal will allow us to handle the full range of bitumen vessels in use today – bringing the benefits of arbitrage and improved supply to our customers and trading partners.”