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Port Moresby
April 1, 2020
Business News

Puma Energy plan further investment in PNG

 

Puma Energy has announced plans to invest further in Papua New Guinea.

The investment plans will transform the company’s operations into a major petroleum hub in the Asia-Pacific region.

Strategies include refurbishing and expanding its service stations and fuel storage capacity across the country and upgrading the company’s refinery at Napa Napa.

Energy company Puma Energy has released it’s 2014 3rd quarter results. It recorded an increase in the volume of sales, with the help of a successful entry into new markets.

Gross profit increased by 31 per cent, compared to last year’s 3rd quarter results. The approximate measure of the company’s operating cash flow has also increased by 21 per cent.

Puma Energy has also announced its growth plans for PNG. Puma Energy’s Chief Operations Officer, Asia Pacific and Middle East, Rob Jones said Puma Energy’s plans would see significant investment in local communities to create jobs, build skills and support Papua New Guinea’s economic growth.

Mr Jones said the new branding was the start of an extensive program to bring better facilities and service standards to Puma Energy’s fuel terminals, retail service stations and aviation capabilities in Papua New Guinea.

Puma Energy said it will also be bringing its leading global health, safety and environmental initiatives and programs to all its operations in the country. 

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