Puma Energy has announced that global gross profit increased 31% in the third quarter 2013 to US$402 million and EBITDA by 21% to US$167m, while it revealed plans to expand and invest further into Papua New Guinea during its official brand launch.

CFO of the globally integrated midstream and downstream energy company, Denis Chazarain, said that Puma Energy delivered another strong quarterly performance with increasing sales volumes, gross profit and EBITDA.

“Our gross profit has now increased for the third quarter in a row as we continue to see the benefits of our recent new market entries,” he said.

Puma Energy said in Port Moresby it will transform its PNG operations into a major petroleum hub for the Asia-Pacific region, refurbish and expand its service stations and fuel storage capacity across the country, and upgrade the company’s refinery at Napa Napa.

“We are also helping to build PNG’s economic sustainability with our graduate recruitment program, by ensuring employees are given world-class training, and developing local service stations as state-of-the-art facilities,” Puma Energy COO Asia Pacific and Middle East, Rob Jones said.

The refurbishment of the service station network is on track to provide improved facilities and services to customers by March 2015, in time for the 2015 Pacific Games, which Puma Energy is sponsoring.

Mr Jones said the new branding was the start of an extensive program to bring better facilities and service standards to Puma Energy’s fuel terminals, retail service stations and aviation capabilities in PNG.

Puma Energy now has over 262 retail sites and over 1,000 employees across Australia. Earlier this year, Puma Energy opened the $70 million, Mackay Fuel Import Terminal, which complements a bulk seaboard fuel terminal in Brisbane.

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