Storage capacity and volumes have increase in Puma Energy’s downstream segment according to its third quarter financial results.
Its gross profit and EBITDA was impacted by a slowdown of activity in some countries, a shift in the geographical and segment mix as well as currency fluctuations.
However, it reported a 14% growth in sales volumes powered by higher UK volumes and organic growth in Americas and Asia Pacific.
Additionally, both its midstream and downstream business segments experienced volume increases.
Puma also increased its storage capacity to a record 7.9 million m3 following its latest acquisition of BP’s storage terminal in Norther Ireland.
CFO Denis Chazarain says: ‘Although we faced the headwinds of currency fluctuations and slowdown of some economies, we have increased our storage capacity to a record 7.9 million m3 following the latest acquisition of BP’s storage terminal in Northern Ireland.
‘Looking forward we will continue to execute on our proven strategy through investments in key markets, disciplined financing and focus on driving the Puma Energy brand in our core markets.’