Trafigura, Pampa Energía deal completed

BUENOS AIRES, May 11, 2018 – Trafigura has finalised the purchase of Pampa Energía’s downstream assets in Argentina, international media reported Thursday.

The Dutch trader paid a total of USD 125 million for the Ricardo Elicabe refinery in Bahia Blanca and a network of more than 250 petrol stations.

“There is currently a significant shortfall in the production capacity of premium fuels in Argentina,” said Patricio Norris, Trafigura’s Americas co-head of oil and gas, in a December 2017 press release initially announcing the purchase. “By acquiring Pampa’s downstream assets we will be able to build our ability to offer customers high quality fuels in a reliable and competitively priced way.”

The deal will allow Trafigura to expand in Argentina, beyond its operation of the Campana fuel terminal, a fluvial fleet and a growing network of petrol stations under the Puma Energy brand. Pampa Energía meanwhile, will continue operating in Argentina’s E&P and power generation sectors.

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