Chevron announced last week that the company plans to exit the downstream market in Swaziland, with the exception of the lubricants market where Chevron will continue to be represented by an independent distributor.

“I am writing to inform you that Chevron has signed an initial sale agreement with Puma Energy for its shareholding in Chevron Swaziland. The proposed transaction is expected to close once the required local regulatory and government approvals have been received. This process may take six months", Chevron Senior Manager Retail Douglas Nkambwe Mutimba said in a letter.

“Moving forward, we will work with Puma Energy in our endeavour to ensure a smooth transition in order to minimise any impact on you as valued business partners,” Mutimba said.

Chevron International withdrew its operations from 14 countries
in 2010, and cited difficult trading conditions. It said as a result, operating expenditure had been cut by approximately E2.96 billion (US$400 million).

Chevron said that its operations in South Africa were being retained, together with operations in North America, Asia, Australia and Britain. In South Africa, Chevron’s operations include the Cape Town refinery, Milnerton refinery as well as the countrywide network of Caltex filling stations.

Puma Energy is an Australian originating company and a rapidly growing, global energy company. In Australia it has acquired Ausfuel Gull, CCG, Matilda and Neumann Petroleum and continues with significant ongoing infrastructure investment in key locations. Puma Energy has over 270 retail service stations throughout Australia. Puma Energy sites are currently operated under a variety of brands including Puma, Matilda, Gull, Choice Petroleum and Peak.