Murco’s Milford Haven facility has been purchased by Singapore-based Puma Energy, together with other UK assets owned by the oil company.
In addition to Milford Haven the acquisition includes three inland terminals at Westerleigh, Theale and Bedworth, as well as Murco’s wholesale and distribution business in the UK.
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 Energy will also be taking on all the terminal and distribution employees.
Puma says that as one of the world’s largest independent, integrated midstream and downstream companies, it will apply its extensive experience in fuel storage at the facility – the result of which will make Milford Haven a key site securing the supply of energy to the UK and wider region during a period of change in European energy infrastructure.
The company says the acquisition will complement Puma Energy’s existing global 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.
Puma Energy CEO Pierre Eladari said: “Puma Energy continues our focused strategy of connecting supply from international markets to local distribution demand.”