Puma Energy has announced the acquisition of a series of UK assets from Murco Petroleum Limited, a subsidiary of Murphy Oil Corporation.
The acquisition includes the Milford Haven facility in Wales, UK and three inland terminals at Westerleigh, Theale and Bedworth, as well as Murco’s wholesale and distribution business in the UK. This in total adds approximately 1.4 million cbm of storage capacity to Puma Energy’s midstream operations of 5.6 million cbm.
Under the terms of the agreement, which represents Puma Energy’s first acquisition in the UK, the Company will acquire the assets and convert the site into a state-of-the-art storage facility. Puma said it will also welcome all the terminal and distribution employees.
“The acquisition complements Puma’s existing strategy of disciplined investing. It also signifies a significant strategic entry into the UK market for the supply of the full range of fuel products giving Puma Energy an immediate presence in the UK wholesale and distribution market,” the group said in a statement.
The company is experienced in working alongside various environmental agencies across its geographic footprint of 45 countries. This includes a commendation by the US Environmental Protection Agency in Puerto Rico for its works at its Bayamon terminal and for constructing five state-of-the-art terminals in 2014.