Trafigura buys Chevron's marketing business in Namibia

LONDON, Sept 13 | Tue Sep 13, 2011 9:30am EDT

LONDON, Sept 13 (Reuters) - Trafigura's mid- and down-stream unit Puma Energy has agreed to buy the fuel marketing business in Namibia of U.S. oil major Chevron , Puma Energy said on Tuesday.

"Completion of the transaction is subject to regulatory approvals in Namibia. The business will remain under Chevron's ownership until all approvals have been obtained," a news release said.

"The newly acquired businesses will add 26 fuel service stations, additional bulk fuel storage facilities, and a portfolio of industrial customers to Puma's existing business in the country."

It is the second acquisition for Puma Energy in September. Earlier in the month the firm, a unit of the world's top trading house Trafigura Beheer BV, bought a bitumen terminal in Spain. (Reporting by Ikuko Kurahone; editing by Keiron Henderson)

Related Quotes and News

Company
Price
Related News
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.