BP to rebrand as Puma Energy

BP announced early this year its intention to dispose of its fuel marketing business in Namibia, Zambia, Malawi, Tanzania and Botswana, which was followed by a scramble for the assets from both local and international investors.

However, yesterday it emerged that Puma Energy, a subsidiary of Amsterdam-based commodities trader Trafigura Beheer B.V., has outpaced other bidders for the assets in the five countries for a total sum of US$296 million.