Chevron has confirmed it will return the Caltex name to Australia, following its $425 million acquisition of Puma Energy Australia.
Chevron finalised the deal last month and will operate under the Puma branding in the near term, until it satisfies current licensing commitments in Australia.
During a recent conference call to update investors on the second quarter earnings, CFO Pierre Breber, speaking with vice president, upstream James (Jay) Johnson, said the acquisition offered an opportunity to expand its brand in the Asia Pacific.
“These assets will integrate with our refining and marketing value chain in Asia Pacific and extend the value Caltex brand in the region,” Mr Breber said.
A Chevron Australia Products spokesperson said the company was looking forward to returning the Caltex branding.
“For the time-being, we will continue to operate our retail service station network in Australia under the Puma brand. As we complete Chevron’s current brand licensing commitments in Australia, we look forward to extending the Caltex family of brands across Australia,” they told C&I.
Following the acquisition, the now-Downstream organisation, Chevron Australia Products, operates 360 company owned and retailer owned locations, currently under the Puma brand, an extensive 24-hour diesel-stop network, 14 depots and three seaboard import terminals.
It comes after Chevron ended the Caltex branding licensing agreement with the now-Ampol branded company after selling its stake in Ampol (then-Caltex). Ampol are in the midst of a three year long transition back to the Ampol brand.