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Minister praises Puma Energy’s Investment in Ghana

Minister praises Puma Energy's Investment in GhanaMinister of Energy and Petroleum, Emmanuel Armah-Kofi Buah, has lauded Puma Energy for investing in the country through its partnership with Blue Ocean Investments and UBI Petroleum.

According to him, Puma Energy’s huge investment in the country showed that the company has confidence in the economy which is fast growing.

He added that the company’s involvement in the energy sector would make it stronger.

Mr. Buah made the disclosure when he joined the board and management of the Puma Energy, a leading global mid and downstream energy company operating in 47 countries across five continents, to officially launch the company’s operations in Ghana on behalf of President John Dramani Mahama in Accra on Monday.

The cocktail launch was attended by CEOs, captains of industry, among others.

He said the government was pursuing economic growth that would be beneficial to all, saying “statistics have shown that the consumption of fuel products in the country is surging. So, there are ample opportunities for investors in the downstream.”




The Chief Operating Officer for Puma Energy Africa Christophe Zyde, on his part, said that “Puma Energy seeks to build infrastructure and make affordable fuel available to consumers through its growing retail network of over 40 stations,” adding “not only does this stimulate economic growth by connecting urban and rural areas, it gets people, goods, trade and industry moving.”

He gave the assurance that the company would explore local talent which he said is fundamental to Puma Energy’s strategy, saying there would be a combination of knowledge and entrepreneurial business model to grow into dynamic, accountable businesses with broad benefits.




“To date, Puma Energy directly employs 162 people in Ghana with 94% of these employees being local. Puma Energy links local demand with international supply through investment in infrastructure,” Mr. Zyde explained.

General Manager for Puma Energy Ghana, Myles Bouvier-Baird said, “The increased capacity and security of supply provided by our investments into aviation storage at KIA and Tema Ridge means that Ghana can optimise its position as a hub for aviation in West Africa.”

He said “the same goes for our investments into clean fuel storage at our Takoradi Terminal, which will be the first depot to store gasoline in Ghana’s Western Region.

He noted that the increased air traffic adds a significant boost to the country’s potential for trade and economic growth.

“And with the Tema Ridge depot, the further 15,000m³ of storage of aviation fuel improves efficiency reinforces security of supply and aids improved planning for the entire market,” he said.

He said the new Takoradi Terminal supports the Ghanaian government’s policy to improve regional fuel supply.

Board Chairman of Puma Energy in Ghana, Salma Okonkwo, said their good works at UBI Petroleum attracted Puma Energy to come and partner them.

“Things will only get better with the partnership of Puma Energy. We will continue to increase our supply chains in the country.”

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