BP makes equity investment in Pure Biofuels del Peru

September 10, 2014 |

In Peru, BP has announced an equity investment of an undisclosed amount in Pure Biofuels del Peru. Based in Lima, Pure Biofuels is a leader in the Peruvian refined fuels and distribution services markets. Pure Biofuels currently has over 1,000,000 barrels of liquid fuels storage at the Port of Callao, the largest port on the Pacific Coast of South America. The Company markets and distributes liquid fuels and biofuels in both the local and regional markets and also owns and operates a state-of-the-art biodiesel refinery co-located with the storage and dispatch terminal in Callao.

Regarding the investment, Russell Simon, Managing Director for BP Latin America Integrated Supply and Trading, said “BP’s equity investment in conjunction with our long term supply relationship with the Company demonstrates our commitment to this important and fast-growing region. Pure Biofuels operates with high environmental and safety standards and owns a key energy infrastructure asset in the South-American fuel distribution market.”
“BP´s extensive technical and commercial expertise and global sourcing capabilities make it an ideal strategic partner to expand the company´s operational and marketing capabilities,” added Alberto Pinto, Chief Executive Officer of Pure Biofuels.
Alec Machiels, a partner at Pegasus (currently an equity stakeholder in Pure Biofuels) said of the investment “BP’s investment in Pure Biofuels as the Company finished its terminal expansion to become the largest refined fuels terminal on the Western coast of South America will significantly help accelerate the Company’s growth prospects.”

 

 

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