Puma Energy has launched a Zambia company and launched a re-brand campaign.
Puma Energy bought BP's oil marketing interestes in a total of five African companies at the end of 2010. Now, the company has launched Puma Energy Zambia Plc, to take advantage of its stakeholding in one of those countries.
Puma, a Trafigura subsidiary, has been bidding for feedstock supply from Zambia's ageing, state-owned Indeni refinery, the only operation in the country. The launch of Puma's Zambian company allows the company to formally join the country's petroleum product market, although import opportunities remain limited.
As part of the launch, Puma announced a $3m re-branding exercise and is set to take advantage of the rising car ownership market in Zambia, helped by increased volumes of second-hand Japanese vehicles. The country recently introduced a single, countrywide pump price for petrol and diesel.
Expansion in the mining sector is also driving a demand for petroleum products, particularly low sulphur diesel.