Puma Energy Invests in Panama

The company aims to increase its market share in the country and plans to invest $80 million in the construction of a fuel storage facility.

Monday, February 23, 2015

The company is preparing to build its own infrastructure in order to increase its business in the Panamanian market. Besides the construction of the plant, Puma Energy is looking to venture into new lines of business, such as selling jet fuel and asphalt manufacturing and lubricants.

The Director of Operations at Pumas Energy Americas, Rodrigo Zabala, told Capital.com.pa that "... We have expansion plans and we would like to have infrastructure, which at the moment we do not have in Panama and we are always looking to have our own terminals. The storage terminal building we are planning to build would have half the capacity of the plant we just built in Puerto Rico, where the company has its regional headquarters. "

Enrico Ferrari, CEO of Puma Energy Panama, added "... For the company this country is an excellent place to invest, for this reason several opportunities are being evaluated, all related to growing the business or solidifying our position logistically. " Today, Puma is one of the two importers of refined products for the local market, the other is Chevron Texaco. "

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