BusinessCompaniesPuma Energy enters Ghana's fuel storage, retail market

Fri,17Nov2017

Posted on Thursday, 07 April 2016 10:01

Puma Energy enters Ghana's fuel storage, retail market

By Dasmani Laary

Global mid and downstream petroleum company, Puma Energy, has entered Ghana's fuel and storage markets after entering into partnerships with two local firms.

The company partnered with Blue Ocean Investments for the storage business and UBI Petroleum, which was renamed - Puma Energy Distribution Ghana – for the fuel retail business.

"Puma Energy seeks to build infrastructure and make affordable fuel available to consumers through its growing retail network of over 40 stations," Puma Energy Africa chief operating officer Christophe Zyde said.

"Not only does this stimulate economic growth by connecting urban and rural areas, it gets people, goods, trade and industry moving.

"In Ghana we have built partnerships with local players – Blue Ocean Investments and UBI Petroleum – in order to increase the fuel storage capacity of Ghana and to bring efficiencies and enhance economic growth,"

Puma Energy has been involved in Ghana's fuel industry for nearly 10 years through the construction and operation of the CBM import system, and helped the aviation sector with the creation of new terminals.

Through Blue Ocean Investments, the company recently built three new storage terminals at the Kotoka International Airport (KIA), Tema Ridge and Takoradi. The CBM system has also consistently been available and is used to import crude and most oil products into the country.

Puma Energy also added storage capacity of 10,000m³ to the existing 750m³ at the KIA aviation fuel depot, bolstering security of supply at the airport and positioning Ghana's only international airport as a contender for major airlines using it as a hub for the West Africa sub-region.

The increased air traffic remains a significant boost to the country's potential for trade and economic growth and with the Tema Ridge depot, the further 15,000m³ of storage of aviation fuel rallies efficiency, reinforces security of supply and aids improved planning for the entire market.

The new Takoradi Terminal supports the government's policy to improve regional fuel supply with the new gasoline and gas oil terminal's added 32,000m³ capacity servicing the west of the country.

"The increased capacity and security of supply provided by our investments into aviation storage at KIA and Tema Ridge means that Ghana can optimise its positioning as a hub for aviation in West Africa," said Puma Energy general manager for Ghana Myles Bouvier-Baird.

"The same goes for our investments into clean fuel storage at our Takoradi Terminal, which will be the first depot to store gasoline in Ghana's Western Region."

Puma Energy says it directly employs 162 people in Ghana with 94 percent being Ghanaians. The company has invested over $2 billion in Africa, and in 2015, it added 350 million litres of storage capacity to the 900 million litres it already had in the region.



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