* Considers building a terminal in Indonesia
* A lot of room to grow in Australia
SINGAPORE, April 24 Puma Energy, partly-owned by
Trafigura, expects to get a quarter of its revenue
from the Asia-Pacific region in the next few years by building
new oil import terminals and raising fuel sales volumes, a
senior executive said on Thursday.
The oil storage and fuel distribution company is considering
building a terminal in Indonesia, while it could expand its oil
products offering in Australia, the largest of its portfolio in
"Australia has gone through a very significant shift in the
closure of refineries and is becoming one of the most important
import markets for refined petroleum products," Robert Jones,
Puma Energy Chief Operating Officer, Asia Pacific and Middle
East told reporters at a briefing.
"We're the largest independent (in Australia) but still
nowhere near the same size as the smallest major, so that tells
you that there's a lot of room to grow in that market."
The Middle East and Asia Pacific account for 15-16 percent
of the company's revenue, which is expected to grow to a quarter
over the next few years, he said. He declined to provide sales
Africa accounts for half of Puma's revenue, while Latin
America, where the company started, contributes a quarter.
Puma bought oil retailer Ausfuel last year and is building
an oil import terminal in Mackay, northern Queensland that will
supply fuel to its mining customers. It also bought Caltex
Australia Ltd's bitumen business.
"The businesses we acquired were focused on particular
geographies and particular market segments, whereas our business
model is much more diverse. With the integration into the
Trafigura supply system, we think we can be much more
competitive as well," Jones said.
Commodities trading giant Trafigura, which owns about 48
percent of Puma, supplies around 60 percent of Puma's oil
product needs. Angolan state oil firm Sonangol owns 30 percent,
while the remainder is held by private investors and employees.
Puma's global sales volume hit 13.1 million cubic metres in
2013, up from 8.9 million cubic metres a year earlier. Jones
declined to give projections for the firm's revenue and sales.
In Indonesia, the company will be announcing further
investments in the next few months, including an oil storage
terminal in Balikpapan to import oil for mining customers in
Kalimantan, Jones said.
The company has expanded quickly in the past couple of years
by acquiring fuel marketing and distribution businesses from
major oil companies such as Exxon Mobil, BP and
Chevron Corp in Central America, Africa and Asia.
(Reporting by Florence Tan; editing by Keiron Henderson)