Puma Energy International

What Puma Energy International does

Puma Energy International SA is a privately held global downstream energy company incorporated in Geneva, Switzerland, and wholly owned by commodity trader Trafigura Group. The company operates across more than 35 countries spanning Sub-Saharan Africa, Central America and the Caribbean, Europe, and the MEAP region (Papua New Guinea, Malaysia, India, Australia), delivering fuels, lubricants, bitumen, LPG, and clean energy products through seven business segments.

The product portfolio is anchored by a retail network of nearly 2,000 Puma-branded fuel stations (with approximately 760 convenience stores and 330 restaurants/cafés), an aviation fuel operation serving around 500 customers at 112 airports in 24 countries, commercial fuel supply to roughly 10,000 industrial customers across mining, agriculture, transport, construction, power generation, marine, and government sectors, plus lubricants distributed across 45 markets under 900 SKUs, bitumen supply through 26 terminals and 1,000+ containers, LPG distribution of 185k m³ annually in Sub-Saharan Africa, and clean/lower-carbon energy solutions (7.5 MWp installed solar, hybrid CNG stations, biofuel and carbon offset solutions) targeting 30% of Africa EBITDA from clean energy by 2027. Proprietary technical assets include the registered bitumen sub-brands CarbonBind® (biogenic, ISCC-certified net-zero binder), OLEXOCRUMB® (10% recycled-tyre crumb-rubber PMB), OLEXOBIT®/OLEXOBIT MAX® (polymer-modified binders), and the TOP TIER-certified CLEANTEC fuel additive.

Revenue is generated across transaction-fee fuel sales, contracted B2B commercial and lubricant supply, and recurring aviation refuelling and storage services, with retail margin expansion driven by non-fuel convenience offerings. The business is supported by a Databricks-powered unified data platform across LATAM, Africa, and Asia-Pacific, channel partnerships such as Hass Petroleum (DRC lubricants) and Chishti Group (Pakistan brand licensing, 600+ sites), a logistics partnership with BHL Group on the Walvis Bay–Solwezi corridor, and digital customer tools including eAviation and the Puma Pris loyalty programme. In 2025 Puma delivered EBITDA of USD 415 million (+23% YoY), net profit of USD 151 million, and operating cash flow of USD 317 million at a record-low net leverage of 1.2x; Fitch upgraded the credit rating to BB+ in May 2026 and Trafigura has held discussions to sell Puma to Rubis SCA at a valuation of up to EUR 2.5 billion (~$2.9 billion).

Name

Puma Energy International

Legal name

Puma Energy International SA

Website

https://pumaenergy.com

Company type

Private

Founded year

1997

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Puma Energy International is a privately held, Trafigura-owned global downstream energy company operating across 35+ countries through seven segments — retail fuel (nearly 2,000 stations), aviation (112 airports), commercial fuels (~10,000 customers), lubricants, bitumen, LPG, and clean energy — serving motorists, airlines, miners, governments, and households.

Ownership category

akta.pro rank

Product category

Downstream Energy Distribution and Retail

NAICS

Fuel Dealers (45721), Pipeline Transportation of Refined Petroleum Products (48691), Fuel Dealers (457210)

SIC

Pipe Lines (No Natural Gas) (4610)

akta.pro primary industry

Alternative Transportation Fuels Retail (EV Charging, Hydrogen, CNG/LNG, Biofuels Blends) (EUALAIAI)

Keywords

• Downstream energy distribution
• Fuel retail network
• Aviation fuel supply
• Industrial bitumen supply
• Lubricants and LPG distribution

Headquarters

HQ city

Cotonou

HQ country

Benin

Offices17 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Supply Chain, Operations, Infrastructure, Personnel, Marketing or Sales, Technology or R&D

Revenue model

1. Retail Fuel Sales: Sale of petrol, diesel, and premium fuels through nearly 2000 Puma-branded retail stations globally, supplemented by convenience store sales, quick-service restaurants, and barista coffee outlets. Revenue generated through high-volume fuel transactions at branded forecourts.
2. Aviation Fuel Supply: Supply of Jet A/A-1, AVGAS 100LL, and lead-free AVGAS UL94 to commercial airlines, general aviation, and airport operators across ~112 airports in 24 countries. Revenue from into-plane operations, fuel importation, handling, storage, and transportation.
3. Commercial and Industrial Fuels: Supply of fuels and integrated energy solutions to mining, agriculture, construction, power generation, marine, transport, and industrial customers. Includes 10,000 commercial customers. Revenue from volume-based fuel sales and contracted agreements.
4. Bitumen Products: Global supply of paving grade bitumen, polymer modified binders (OLEXOBIT), crumb rubber binders (OLEXOCRUMB), CarbonBind® low-carbon bitumen, cutback bitumen, emulsions, and specialty binders for road construction and infrastructure projects. Revenue from product sales and logistics services.
5. Lubricants: Sale of high-performance lubricants across 45 markets through 900 SKUs, serving marine, power generation, mining, cement, and sugar mill industries, as well as motorists through retail network.
6. LPG Distribution: Distribution of LPG (liquefied petroleum gas) for clean cooking and energy, both through retail network and direct to consumers. Also supplies LNG and CNG for industrial customers. Distributed 83 k m³ of LPG annually and 185 k m³ annually per the LPG page.
7. Storage and Terminal Services: Storage income from terminal operations across multiple geographies. Q4 2025 results noted a USD 15 million increase in storage segment income from new storage agreements and improved terminal utilisation. Ghana Tema and Takoradi terminals represent storage assets.
8. Clean and Low Carbon Energy Solutions: Revenue from solar PV and battery hybrid energy solutions, diesel-to-gas conversion, biofuels, and carbon offset solutions. Includes financing solutions such as pay-as-you-go and build-operate-transfer (BOT) contracts for renewable energy installations. 7.5 MWp solar capacity installed.

Go-to-market motion3 records

Distribution channels9 records

Marketing channels10 records

Core offering

Puma Energy is a global downstream energy company that sells refined petroleum products (retail petrol/diesel, aviation Jet A/AVGAS, commercial and industrial fuels), bitumen binders, industrial and automotive lubricants, and LPG, while also distributing renewable and lower-carbon energy (solar PV, CNG, biofuels). It operates nearly 2,000 branded retail forecourts, into-plane operations at over 100 airports, and a global bitumen terminal network across more than 35 emerging markets in Africa, Latin America, Europe, and MEAP.

Product overview

Puma Energy International is a global downstream energy company operating across 35+ countries in Africa, Latin America, Europe, and MEAP regions. Its product portfolio spans seven core business segments: Retail (nearly 2,000 fuel stations with convenience stores and quick-service restaurants), Aviation (fuels at 112 airports across 24 countries), Commercial Fuels (solutions for mining, agriculture, transport, construction, power generation, and marine sectors serving ~10,000 customers), Clean & Low Carbon Energy (Solar PV, CNG/LPG transition, biofuels, and carbon offsets targeting 30% Africa EBITDA by 2027), Lubricants (900+ SKUs across 45 markets serving marine, power generation, mining, cement, and sugar mills), Bitumen (global supply via 27 terminals, 1,000+ containers, and a 327 kt ship fleet, including CarbonBind low-carbon and OLEXOCRUMB crumb-rubber sub-brands), and LPG (185k m3 annually across Sub-Saharan Africa with micro-financing access solutions). Adjacent digital offerings include eAviation operational platform and the Puma PRIS loyalty app. The company is majority-owned by Trafigura Group.

Differentiator

Problem solved

Functional benefit

Brands

• CarbonBind: Biogenic carbon bitumen product that reduces carbon footprint by capturing CO2 from the atmosphere and permanently storing it in road pavement. Different grades available; in typical applications, 150kg of CO2 is sequestered per ton of CarbonBind used.
• OLEXOCRUMB
• Puma Bitumen
• Puma Aviation
• CLEANTEC
• PumaGas

Products and services

• Retail Fuel Network Nearly 2,000 Puma-branded retail fuel stations worldwide, supplying petrol, diesel, and premium fuels to motorists, plus ~760 convenience stores, ~330 restaurants and cafes (Super7 Cafe, Circle K, OK Express), lubricants, and the Puma Pris loyalty programme. Serves both consumer motorists and small-business fleet customers.
• Aviation Fuel Supply Supply of Jet A/A-1, AVGAS 100LL, and lead-free AVGAS UL94 aviation fuels to ~500 commercial airlines, general aviation operators, and airport FBOs across ~112 airports in 24 countries, including into-plane operations, importation, handling, storage, and transportation, supported by the eAviation digital platform.
• Bitumen Products Global supply of paving-grade bitumen, polymer modified binders (OLEXOBIT®), crumb rubber binders (OLEXOCRUMB®), low-carbon biogenic binders (CarbonBind®), cutback bitumen, emulsions, and specialty binders for road construction and infrastructure projects, with logistics support from 26 terminals, 1,000+ containers, and a 327 kt bitumen carrier fleet.
• Commercial and Industrial Fuels Supply of fuels and integrated energy solutions to ~10,000 commercial and industrial customers across mining, agriculture, construction, power generation, marine, transport, and government sectors, delivered through dedicated account managers and field sales teams.
• Puma Lubricants High-performance industrial and automotive lubricants (900 SKUs) distributed across 45 markets, serving marine, power generation, mining, cement, and sugar mill sectors, plus motorists through the Puma retail network. Includes a digital Oil Finder selection tool.
• PumaGas LPG Distribution LPG (liquefied petroleum gas) supply for clean cooking and energy, distributed via the retail network and directly to consumers across Sub-Saharan Africa (~185 k m³ annually), with cylinder sizes from 3 kg to 45 kg, plus LNG and CNG supply for industrial customers, supported by micro-financing partnerships.
• Clean and Low Carbon Energy Solutions Renewable and lower-carbon energy solutions comprising solar PV and battery hybrid installations, diesel-to-gas (LPG/CNG) conversion, biofuels, and carbon offset solutions. Includes pay-as-you-go and build-operate-transfer financing models, with 7.5 MWp solar capacity installed across operations and 78 solar PV sites at Puerto Rico retail stations via the Rooftop Solar JV.
• CarbonBind® Low-Carbon Bitumen Proprietary biogenic bitumen component that introduces a negative-carbon content into conventional binder grades, using sustainably-grown plant-based material that locks CO₂ permanently into road pavement (~150 kg CO₂ sequestered per tonne). ISCC-certified sourcing; externally verified by life-cycle assessment and environmental product declarations.
• OLEXOCRUMB® Crumb Rubber Binder Crumb rubber asphalt binder incorporating 10% recycled tyre rubber and a warm-mix additive, formulated to comply with existing Austroads polymer modified binder (PMB) specifications, available in A10E, A15E, and A20E grades. Direct drop-in replacement for conventional PMBs; each tonne repurposes the equivalent of 15 passenger car tyres.
• CLEANTEC Fuel Additive Technology Advanced fuel additive technology with detergent capabilities that prevents carbon-deposit build-up in combustion systems, reduces friction and wear on key engine components, available in Regular and CLEANTEC PRO (50% more detergent) variants for gasoline. TOP TIER certified by leading global automotive manufacturers; demonstrated 100% elimination of new deposit formation in direct-injection engine tests.
• Databricks-Powered Unified Data Platform Enterprise data and analytics platform built on Databricks that powers supply-chain optimisation, fuel-stockout prediction, and operational decision-making across Puma Energy's Latin America, Africa, and Asia-Pacific operating geographies. Internal operational product enabling commercial teams and operations functions.

Quantifiable outcome

• Reduced CO₂ emissions by 592.5 kg per tonne of bitumen; total saving of 20,000 kg CO₂ using CarbonBind® M1000 in the Ferny Hills project
• +8 more outcomes

Named customers9 records

Segments9 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

Feature7 records

Partnerships

Nine partnerships are on record, tiered core and minor.

• Hass Petroleum GroupcoreChannel Partner/ Reseller/ Distributor · 1 February 2026Puma Energy and Hass Petroleum Group announced a lubricant distribution partnership covering the Democratic Republic of Congo, signed at the Investing in African Mining Indaba conference in Cape Town. Under the agreement, Hass Group distributes and markets Puma Energy's high-performance lubricants for mining and industrial operations in the DRC, marking the first entry of the Puma Energy lubricants brand into the country. Hass Group also indicated plans to expand into Mozambique and Angola as part of its regional growth strategy. The deal forms part of Puma Energy's expansion of its lubricants business across 11 African markets.
• Buks Haulage Limited (BHL Group)coreChannel Partner/ Reseller/ Distributor · 1 January 2026Puma Energy signed a five-year partnership with BHL Group to manage fuel transportation from Walvis Bay, Namibia to key mining hubs in Zambia including Solwezi. The agreement strengthens the Zambia-Namibia trade corridor and includes optimised return journeys to support copper exports, enhancing supply chain resilience for Zambia's mining, industrial, and retail sectors. The partnership was announced at Mining Indaba 2026.
• Fueltrade LtdminorStrategic or Co-development Partner · 1 December 2025In December 2025, Puma Energy signed an asset purchase agreement to sell its Takoradi Storage Terminal in Ghana to Fueltrade Ltd for USD 22 million. Both transactions (Tema and Takoradi) are subject to regulatory approvals and customary closing conditions, classified as Assets Held for Sale.
• DatabrickscoreTechnology or Integration · 1 November 2025Puma Energy invested in a unified data platform powered by Databricks to improve fuel access and operational efficiencies across Latin America, Africa, and Asia-Pacific. The platform has reduced data latency by about 98-99%, lowered fuel stockouts by over 20%, and decreased data costs by 15%. This technology partnership supports supply chain optimisation and data-driven decision making across the company's global operations.
• Empire GasminorStrategic or Co-development Partner · 1 September 2025On 29 September 2025, Puma Energy successfully completed the divestment of its Puerto Rico LPG assets to Empire Gas for USD 18 million. This transaction reflects Puma Energy's commitment to divesting non-core infrastructure assets and focusing on simplifying its business.
• Sonabhy Ltd (Société Nationale Burkinabè des Hydrocarbures)minorStrategic or Co-development Partner · 1 August 2025Puma Energy signed an asset purchase agreement for the sale of its Tema Multi-Purpose Terminal (TMPT) in Ghana to Sonabhy Ltd for USD 60 million. As part of the agreement, Puma Energy will retain storage capacity to ensure uninterrupted supply to its downstream operations. The transaction reflects Puma Energy's commitment to divesting non-core marine infrastructure assets and focusing on core downstream markets. Transaction completed with classification as Assets Held for Sale in Q3 2025, resulting in a partial reversal of the 2021 impairment and a gain of USD 43.6 million.
• High Heat TankersminorStrategic or Co-development Partner · 1 April 2025Puma Energy divested its 50% share in the joint venture company High Heat Tankers on 22 April 2025 for USD 4.3 million, in line with the company's strategy to focus on core downstream markets.
• Chishti GroupcoreChannel Partner/ Reseller/ Distributor · 1 December 2023Puma Energy International and Chishti Group signed an extended brand licence agreement authorising the use of the Puma Energy brand and name in Pakistan. Chishti Group operates a retail network under the Puma Energy Pakistan brand with over 600 retail sites across the country (currently over 50 Puma-branded). Plans include expanding the network to include all key retail sites as part of its growth plans, exploring solar power for Puma-branded retail sites, and expanding services to LPG distribution through the growing retail network. The agreement was signed by Puma Energy International CEO Hadi Hallouche and Chishti Group Chairman Amir Chishti.
• Zanaco BankcoreGTM or Marketing Partner · 1 October 2023Puma Energy partnered with Zanaco, Zambia's largest bank, to develop micro-financing solutions for potential LPG consumers unable to afford the upfront cost of purchasing LPG equipment. Consumers can pay for packages including an LPG cylinder, gas, and cooking solutions in affordable instalments through the bank. The partnership promotes access to clean cooking in Zambia and was expanded to residential areas including Lusaka, Kitwe, Ndola, Solwezi, and mining communities.

Scale indicators16 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Vivo Energy: Pan-African downstream fuel retailer and distributor operating branded service stations across more than 20 African countries, with similar exposure to retail forecourts, commercial fuels, lubricants, and aviation. Highly comparable to Puma's African retail and B2B operations, including overlapping geographies in southern, east, and west Africa.
• Rubis SCA: French downstream energy company with retail fuel distribution, LPG, and bitumen operations across Europe, the Caribbean, and Africa. Directly comparable to Puma across retail, LPG, and storage terminal segments, and is the named counterparty in Trafigura's ongoing Puma divestment discussions, making it both a peer and a potential acquirer.
• Oryx Energies: Switzerland-based downstream fuel distributor focused on Africa, the Middle East, and select European markets, supplying retail fuels, commercial fuels, LPG, lubricants, and bitumen. Closely comparable mid-sized peer in the emerging-markets downstream niche Puma occupies.

Regional players

• Engen (PetroSA): South African downstream fuel and lubricants company with retail networks across sub-Saharan Africa, now operating under PetroSA ownership. Comparable to Puma's African retail, commercial fuels, and lubricants footprint, particularly in southern Africa where Puma and Engen directly overlap.
• Oando Plc: Nigerian integrated energy company with downstream retail, aviation, and lubricants operations across West Africa. Comparable to Puma's West African retail and commercial fuels segments, particularly in Benin and Ghana where Puma directly operates.

Broad incumbents

• TotalEnergies Marketing & Services: Global integrated oil major with extensive African and Latin American downstream operations spanning retail, aviation, lubricants, and commercial fuels. Overlaps with Puma across multiple segments and geographies but operates at much greater scale and as part of a vertically integrated portfolio.
• BP (Castrol / TravelCenters): Global oil major with downstream retail, aviation, bitumen, and lubricants operations across Africa, Latin America, and MEAP. Puma's board includes ex-BP Mobility leadership (Frédéric Baudry), and BP overlaps with Puma across retail, lubricants, and bitumen segments at a much larger scale.
• Shell (Shell Retail / Shell Aviation): Global integrated oil major with major downstream presence across Africa, Latin America, and Asia-Pacific in retail, aviation, commercial fuels, lubricants, and bitumen. Competes with Puma in many of the same emerging markets and Puma's board includes ex-Shell leadership (Amr Adel).
• Glencore Energy: Global commodity trader and energy supply chain participant with downstream oil product distribution and storage. Comparable to Trafigura (Puma's parent) and Puma at the trading and oil products wholesale level, particularly in emerging market fuel supply.

Others

• Trafigura Group: Singapore-based global commodity trader and Puma Energy's parent company, supplying crude and refined products globally and operating storage terminals and bunkering businesses. Relevant as Puma's supplier, owner, and potential divestor rather than a direct downstream retail competitor, but materially shapes Puma's strategic and capital allocation context.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

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Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Subsidiaries4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Puma Energy International