Global mid and downstream energy company Puma Energy has today announced the completion of the acquisitions of Ausfuel and Neumann Petroleum.
The acquisition of Ausfuel, which completed on Friday 1st March 2013, will add 110 retail sites of Gull, Choice and Peak service stations to Puma Energy's portfolio, as well as 11 depots throughout Western Australia, Northern Territory, Queensland, South Australia and New South Wales.
The acquisition of Neumann Petroleum, which completed on Thursday 28th February 2013, will add a retail portfolio of more than 120 service stations in Queensland and New South Wales, along with the company’s bulk seaboard fuel terminal at Eagle Farm in Brisbane.
Independently-owned Puma Energy also plans to develop a new petroleum import terminal at the Port of Mackay. The investments will see existing Neumann Petroleum and Ausfuel staff retained and jobs created as the business expands into new regions.
Commenting on today’s completion, Ray Taylor, Puma Energy Australia's General Manager said: “Puma Energy provides access to independent fuel supply and opportunities to help businesses like Ausfuel and Neumann grow their market share and expand into new regions and ultimately bring more competition to the Australian fuel market,” said Mr Taylor.