Australia's largest independent fuel operator Puma Energy has today announced the completion of the acquisition of Caltex Australia Ltd's bitumen business.

The Sydney-based bitumen business operates through an agreement with Terminals Pty Ltd who operate a purpose-built Bitumen Terminal in Port Botany, Sydney.

The acquisition will complement Puma Energy’s bitumen supply, storage and distribution capacities, following investment already made in Africa, SE Asia and Latin America, and will leverage Puma Energy’s strategic partnership with global commodity trading firm Trafigura.

Puma Energy Australia General Manager Ray Taylor said the decision to acquire the bitumen business comes at an important time for the Australian fuel industry.

"The Australian bitumen market faces a reliance on imports after the shutdown of several refineries and we believe this asset strengthens and diversifies our position as Australia's largest independent fuel retailer," Mr Taylor said.

"Puma Energy, along with our strategic partner Trafigura, is well-placed to leverage bitumen in Australia, with significant technical experience and a strategy for trading."

The deal also includes the purchase of Caltex’s 50% share in an Oxidation plant joint venture partnership with SAMI Bitumen Technologies for an oxidation and in-line blending facility which operates at the same Port Botany site.

About Puma Energy

Puma Energy is a global integrated midstream and downstream oil company active in over 35 countries. Formed in 1997 in Central America, Puma Energy has since expanded its activities worldwide, achieving rapid growth, diversification and product line development. The company directly manages over 6,000 employees. Headquartered in Singapore, it has regional hubs in Johannesburg (South Africa), San Juan (Puerto Rico), Brisbane (Australia) and Tallinn (Estonia).

Puma Energy’s core activities in the midstream sector include the supply, storage and transportation of petroleum products. Puma Energy’s activities are underpinned by investment in infrastructure which optimises supply chain systems, capturing value as both asset owner and marketer of product.

Puma Energy’s downstream activities include the distribution, retail sales and wholesale of the full range of refined products, with additional product offerings in the lubricants, bitumen, LPG and marine bunkering sectors. Puma Energy currently has a global network of over 1,500 retail service stations. Puma Energy also provides a robust platform for independent entrepreneurs to develop their businesses, by providing a viable alternative to traditional market supply sources. Total sales are expected to reach over USD 13 billion in 2013. Puma Energy’s strategic shareholders are Trafigura Beheer B.V, one of the world’s largest independent commodity traders, and Sonangol, the national oil company of Angola.