Angola: Puma Energy invests in port

Puma Energy, whose largest shareholder is commodity trader Trafigura Beheer, opened an offshore fuelling system to expand its terminal in Angola’s capital. Puma Energy’s Fishing Port Terminal in Luanda Bay would have total storage capacity of 276 000 cubic metres in its first phase, the Singapore-based company said. The conventional buoy mooring system could accommodate all but the industry’s biggest tankers, it said. Puma Energy’s investment in the terminal could triple or quadruple from the $100 million (R1.2 billion) spent so far by the time it was complete, Christophe Zyde, the chief operating officer of its African business, said. The company started operating in Angola in 2004 as a partner of state-owned Sonangol. – Bloomberg